ICBC (01398) has announced the full subscription of its 2026 perpetual capital bond tranche, a move aimed at strengthening its capital base.

The issuance, completed on the national interbank bond market, received regulatory approval prior to its launch. The bond, which is also accessible through Bond Connect, carries a total scale of RMB 20 billion.

For the initial five-year period, the bond features a coupon rate of 1.86%, which will be subject to adjustment every five years thereafter. The bank retains a conditional redemption right exercisable at the fifth anniversary and on each subsequent coupon payment date.

The net proceeds from this offering are designated to supplement the bank's Tier 1 capital, thereby enhancing its financial resilience and supporting future business development.