Industrial and Commercial Bank of China completed the issuance of 20 billion yuan in undated capital bonds, the third tranche under Bond Connect, on July 10, 2026. The bonds carry a coupon rate of 1.89 percent for the first five years, resetting every five years, with a conditional redemption option for the issuer on the fifth year and each subsequent interest payment date. The proceeds will be used to replenish the bank's additional tier-one capital.
Industrial and Commercial Bank of China LtdICBC issued 20 billion yuan in undated capital bonds to replenish additional tier-one capital, strengthening its capital base.