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Shanghai Commercial Bank issues US$300M of notes

Shanghai Commercial Bank Ltd. issued US$300 million of Tier 2 subordinated notes due 2029.

The notes bear a coupon of 5.00%, the bank said Jan. 17. It has applied to list the notes on the Hong Kong stock exchange. The listing is expected to become effective on Jan. 18.

HSBC Holdings Plc., Citigroup Inc. and BOSC International served as joint lead managers for the issue.