BEIJING, May 9 (Xinhua) – Agricultural Bank of China (ABC) issued on Friday perpetual bonds worth 85 billion yuan on the domestic interbank bond market, the Xinhua-run Shanghai Securities News reported on Friday.
The bond, with a nominal interest rate of 3.48 percent, was actively subscribed by investors.
The raised funds will be used to replenish the lender's capital in a bid to better serve the epidemic prevention and control and prop up the development of the country's real economy.
Perpetual bonds are fixed-income securities with no maturity date and are not redeemable but pay a steady stream of interests forever.
In January 2019, the Bank of China became the first domestic bank to issue perpetual bonds.
(Edited by Yang Yifan with Xinhua Silk Road, yangyifan@xinhua.org)
A single purchase
