On June 16, China Merchants Bank Co.,Ltd. announced the completion of its 2026 perpetual capital bond issuance. The bank stated that the 2026 Perpetual Capital Bonds (Series II) (Bond Connect) were priced on June 11, 2026, and their issuance was finalized on June 15, 2026.

The total issuance size for this tranche of bonds amounts to 20 billion yuan. The coupon rate for the initial five-year period is set at 1.99%, with adjustments scheduled every five years thereafter. The bonds include a conditional issuer call option, exercisable on each interest payment date from the fifth year onwards.