Industrial Bank Successful Issuing Perpetual Bonds Worth 30 Billion Yuan

Recently, Industrial Bank has successfully issued perpetual bonds of 2024 in the domestic interbank bond market. The issuing scale has reached 30 billion yuan, with a 2.39% coupon rate. The successful issuance is important for Industrial Bank to tamp the capital strength, enhance its ability to resist the risk and promote sustainable development.

This term of bonds, following market principles and issued by online book-building, is popular among investors. The issuance result has shown that this term of bonds is popular in the bond floatation market, the subscription multiple has reached 3 times. Investing institutions covered diverse industries including insurance, fund, bond, and bank financing industries, showing professional investors’ confidence in Industrial Bank.

A principal of Industrial Bank said that funds raised from this term of bonds will be used to supplement other Tier 1 Capital of Industrial Bank in accordance with applicable laws and approvals from regulatory authorities. As calculated by the data of the end of 2023, the capital adequacy ratio will increase by 0.41%, which will further enhance the capital adequacy ratio of this bank, promote steadfast development of its business, and improve its abilities to serve the real economy.