Zhongyuan Bank (HKG:1216) raised 10 billion yuan through issue of first tranche of undated capital bonds in China's national interbank bond market.

The bonds were book-built Sept. 17 and settled Sept. 21, with a coupon rate of 1.92% for the first five years, according to a Tuesday Hong Kong bourse filing. The rate will reset every five years thereafter.

The bank may redeem the bonds in whole or in part on any interest payment date from the fifth year onward.

Shares of the lender declined nearly 2% in late-morning trade Tuesday.