Bank of Qingdao (HKG:3866, SHE:002948) completed the issue of 4 billion yuan of undated bonds, according to a Thursday Hong Kong bourse filing.
The bonds have an interest rate of 2.01% during the first five years, after which it will be reset every five years.
The lender has the right to redeem all or part of the bonds on every interest payment date from the fifth year onward.
The bank will use proceeds to supplement its other tier-one capital.
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