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China Post Bank plans $7.25 bln perpetual preference share issuance
September 22, 2017 / 1:23 AM / 3 months ago

China Post Bank plans $7.25 bln perpetual preference share issuance

HONG KONG, Sept 22 (Reuters) - Postal Savings Bank of China Co Ltd said in a filing on Friday it plans to issue $7.25 billion in U.S. dollar-denominated perpetual offshore preference shares.

The shares will yield 4.5 percent per annum and have a par value of 100 yuan each.

The Chinese state-run bank said in a filing to the Hong Kong Stock Exchange that it has entered into subscription agreements with joint lead managers and expects to raise about 47.6 billion yuan ($7.23 billion) after deducting commissions and expenses. ($1 = 6.5861 Chinese yuan) (Reporting by Sijia Jiang; Editing by James Pomfret and Edwina Gibbs)

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