China CITIC Bank Corp. Ltd. issued 40 billion Chinese yuan of undated capital bonds.
The bonds were priced with a coupon of 4.20% for the first five years and will be reset every five years, according to a Dec. 11 release.
The issuance was completed Dec. 9 and the bonds were listed on China's interbank bond market.
The proceeds from the issuance will be used to replenish the bank's additional Tier 1 capital.
As of Dec. 11, US$1 was equivalent to 7.04 Chinese yuan.