Industrial and Commercial Bank of China: has exercised the redemption right, fully redeeming a total of 90 billion yuan of Tier 2 capital bonds.

On November 17th, Industrial and Commercial Bank of China (ICBC) announced that in September and November 2020, it issued two tranches of 10-year fixed-rate subordinated capital bonds totaling 90 billion yuan on the national interbank bond market. and issued a notice regarding the completion of the issuance of the bonds. According to the relevant provisions in the offering circular of the bonds, the issuer has the option to redeem the bonds, and ICBC has the right to redeem the bonds in full on the last day of the 5th interest year of the bonds. ICBC has exercised the redemption right and fully redeemed the bonds.