Bank of Jiangsu Co. Ltd. raised 20 billion yuan by issuing Tier 2 bonds.
The 10-year notes carry an annual coupon of 4.18% and an option for the lender to redeem them after five years.
Proceeds from the exercise will be used to boost the bank's secondary capital, according to a Sept. 30 release.
As of Sept. 30, US$1 was equivalent to 7.15 Chinese yuan.
