Industrial And Commercial Bank Of China Limited (HKEX: 01398) has announced the recent completion of its 2026 Tier 2 capital bond (Phase IV) (Bond Connect) issuance on the national interbank bond market, following the necessary regulatory approvals.

The issuance size for this tranche amounts to 60 billion yuan. The bonds are structured as 10-year fixed-rate instruments, featuring a conditional issuer redemption option at the end of the fifth year, and carry a coupon rate of 1.88%.

Proceeds from this bond issuance, after deducting associated offering expenses, will be utilized to augment the bank's Tier 2 capital base, in compliance with applicable laws and subject to approval by the relevant regulatory authorities.