Ge Long Hui·2025-11-14 10:01Core Viewpoint - The issuance of the "Bank of Communications Co., Ltd. 2025 Third Phase Total Loss Absorption Capacity Non-Capital Bonds" aims to enhance the bank's total loss absorption capacity, with a total issuance scale of 30 billion RMB [1] Group 1: Bond Issuance Details - The total scale of the bond issuance is 30 billion RMB, divided into two varieties [1] - The first variety is a 4-year fixed-rate bond with an issuance scale of 26 billion RMB and a coupon rate of 1.93%, featuring a conditional issuer call option at the end of the third year [1] - The second variety is a 4-year floating-rate bond with an issuance scale of 4 billion RMB, with the initial interest rate reset at 1.94% and a fixed spread of 0.46%, also including a conditional issuer call option at the end of the third year [1] Group 2: Use of Proceeds - The funds raised from this bond issuance, after deducting issuance costs, will be used to enhance the bank's total loss absorption capacity, subject to applicable laws and regulatory approvals [1]