Industrial and Commrcl Bank of China : Announcement on the Completion of the Issuance of Tier-2 Capital Bonds (Second Tranche)

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With the approvals of the China Banking Regulatory Commission and the People's Bank of China, the issuance of Industrial and Commercial Bank of China Limited 2017 Tier-2 Capital Bonds (Second Tranche) (the "Bonds") in China's national interbank bond market has recently been completed.

The size of this issuance of the Bonds is RMB44 billion. The type of bonds is fixed rate bonds with a term of 10 years. The issuer shall have a redemption right from the end of the fifth year onwards. The coupon rate is 4.45%.

The proceeds from this issuance of the Bonds will be used to replenish Industrial and Commercial Bank of China Limited's Tier-2 capital in accordance with the applicable laws and the approvals by the regulatory authorities.

Beijing, PRC

22 November 2017

As at the date of this announcement, the board of directors comprises Mr. YI Huiman, Mr. GU Shu, Mr. ZHANG Hongli and Mr. WANG Jingdong as executive directors, Mr. ZHENG Fuqing, Mr. FEI Zhoulin, Mr. CHENG Fengchao, Ms. MEI Yingchun, Mr. DONG Shi and Mr. YE Donghai as non-executive directors, Mr. OR Ching Fai, Mr. HONG Yongmiao, Mr. Anthony Francis NEOH, Mr. YANG Siu Shun, Ms. Sheila Colleen BAIR and Mr. SHEN Si as independent non-executive directors.