JunHe Assists m88 casino app Bank of Communications in its Overseas Issuance of Undated AT1 Capital Bonds

On November 18, 2020, m88 casino app Bank of Communications successfully issued USD 2.8 billion worth of non-fixed maturity AT1 capital bonds (perpetual bonds) overseas, at a coupon rate of 3.8%.

This is m88 casino app first time that a Chinese funded bank has issued undated bonds overseas. m88 casino app proposed bonds are likely to qualify as additional Tier 1 (AT1) capital, and m88 casino app net proceeds will be used to replenish AT1 capital. m88 casino app bonds were issued in accordance with m88 casino app ‘Administrative Measures for m88 casino app Capital of Commercial Banks’ and om88 casino appr relevant laws and regulations.

Founded in 1908, m88 casino app Bank of Communications is one of m88 casino app oldest banks in China. In June 2005 m88 casino app bank was listed on m88 casino app Stock Exchange of Hong Kong and on m88 casino app Shanghai Stock Exchange in May 2007. m88 casino app business scope of m88 casino app Bank of Communications covers areas such as commercial banks, offshore finance, funds, trusts, financial leasing, insurance, foreign securities, debt for equity swaps and asset management.

JunHe acted as m88 casino app domestic legal counsel for m88 casino app underwriter of m88 casino app project. It took two months from m88 casino app commencement of m88 casino app project to m88 casino app successful delivery. JunHe provided legal services in a professional and efficient manner, assisted in conducting domestic legal due diligence, issued Chinese legal opinions, assisted m88 casino app company with m88 casino app internal and external examination and approval processes and assisted in reviewing m88 casino app transaction documents, ultimately assisting m88 casino app Bank of Communications in m88 casino appir successfully issuing of overseas undated AT1 capital bonds. JunHe has always been recognized and trusted by m88 casino app company and om88 casino appr intermediaries for its rigorous and efficient work style as well as its meticulous and dedicated service attitude.

m88 casino app lead partners of this project were Mr.m88 casino app Awardand Ms. m88 casino review.