Weihai City Commercial Bank Co., Ltd., a city commercial bank based in Chinese port city of Weihai, said Monday that it would sell up to three billion yuan worth of 10-year bonds to raise tier-2 capital in the onshore interbank bond market on Sept. 24.
According to a filing published at ChinaMoney.com.cn, the bonds, with fixed-interest rates, have conditions of write-down and are subject to an early redemption at the end of the fifth year under certain circumstances.
According to Xinhua's calculations based on data from ChinaMoney.com.cn, a total of 35 tier-2 capital bonds -- offered mostly by small banks -- have been issued to raise 177.864 billion yuan in total since the start of this year.
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