Weihai City Commercial Bank Co. Ltd. has announced the successful completion of its "2025 Sci-tech Innovation Bonds" issuance in the national inter-bank bond market. The offering involved the issuance of RMB1 billion in bonds, carrying a coupon rate of 1.94%. The bonds include an issuer's conditional redemption right at the end of the fifth year. Proceeds from the issuance, after deducting related expenses, will be used specifically to support sci-tech innovation businesses. This update follows the initial announcement of the proposed mandate to issue finance bonds earlier in the year.
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