Jun. 29, 2012 (China Knowledge) - Hankou Bank has announced that it plans to issue RMB 5 billion of financial bonds on Jul. 3.
The bank said in a statement that it will issue RMB 3 billion in three-year bonds and RMB 2 billion in five-year bonds. Value date of the two bonds is Jul. 5, and interest will be paid annually.
China Lianhe Credit Rating Co Ltd has rated the issuer and notes AA and AA, respectively.
Changjiang Securities Co has been hired as lead underwriter for the offering.
In 2011, Hankou Bank made a net profit of RMB 1.51 billion on operating revenue of RMB 3.53 billion. At the end of last year, the bank's capital adequacy ratio was 11.04% and its core capital adequacy ratio was 10.16%.