China Construction Bank (HKG:0939, SHA:601939) completed the issue of 40 billion yuan of undated additional tier 1 capital bonds on Monday, a Tuesday Hong Kong bourse filing by the Chinese port operator said.

The bonds carry a 1.99% coupon rate during the first five years, after which it will be reset every five years. The lender will have a conditional redemption right on every interest payment date from the fifth year onward.

The firm will use proceeds from the issue to replenish its additional tier 1 capital.