Bank of China (HKG:3988, SHA:601988) redeemed write-down undated capital bonds worth 40 billion yuan, according to a Tuesday disclosure on the Hong Kong Stock Exchange.

The bonds were issued on April 28, 2020, and the Chinese lender had the right to redeem the bonds at the fifth anniversary of the issuance.

The company's Hong Kong shares rose less than 3% and Shanghai shares increased less than 2% in recent trade.