Bank of Zhengzhou Co. Ltd. plans to issue up to 10 billion yuan of capital bonds.
The capital bonds will have an initial term of not less than five years, according to an April 30 disclosure. The bank will issue capital bonds without a fixed term or Tier 2 capital bonds.
The bank plans to use the proceeds from the issuance to replenish its Tier 1 capital or Tier 2 capital to improve operation capacity, enhance risk resistance and support the development of its various businesses.
As pf April 30, US$1 was equivalent to 6.74 yuan.