400亿，农行公告：全额赎回！

Core Viewpoint - Agricultural Bank of China has redeemed 40 billion yuan of its subordinated capital bonds, a common practice among commercial banks to maintain capital adequacy and optimize capital structure [2][5]. Group 1: Bond Redemption Details - On April 29, 2020, Agricultural Bank issued 40 billion yuan of 10-year subordinated capital bonds, with the option to redeem them at the end of the fifth year, which is May 6, 2025 [4]. - As of May 7, the bank has exercised its redemption right and fully redeemed the bonds, which is a routine operation under the bond's issuance terms [5]. Group 2: Implications of Redemption - Subordinated capital bonds are crucial for commercial banks as they enhance capital adequacy and risk resilience, supporting business development [5]. - According to the "Commercial Bank Capital Management Measures," the amount of subordinated capital instruments that can be counted as capital decreases in the last five years before maturity, prompting banks to redeem and replace them to maintain capital levels [5]. - The redemption indicates that the bank meets the necessary conditions for exercising the redemption right, reflecting its strong financial position and profitability [6].