Bank Of Chongqing Co.Ltd(601963) 3 on March 20, a series of announcements were issued to officially launch the issuance procedure of convertible corporate bonds, which are referred to as “heavy bank convertible bonds”. It is reported that the total amount of convertible bonds issued this time is 13 billion yuan, with a term of six years, that is, from March 23, 2022 to March 22, 2028. The coupon rates are 0.20% in the first year, 0.40% in the second year, 1.00% in the third year, 1.70% in the fourth year, 2.50% in the fifth year and 3.50% in the sixth year respectively. The initial conversion price is 11.28 yuan / share.
According to the announcement, the convertible bonds will give Bank Of Chongqing Co.Ltd(601963) original A-share shareholders the right of priority placement. The number of heavy silver convertible bonds that can be preferentially placed by the original A-share shareholders is the number of shares they hold Bank Of Chongqing Co.Ltd(601963) after the closing of the market on the equity registration date (March 22, 2022). The amount of convertible bonds that can be placed is calculated according to the proportion of convertible bonds with a par value of 6.858 yuan per share, and then converted into the number of hands according to the ratio of 1000 yuan / hand. Each hand (10 pieces) is an application unit, that is, Zhongshan Public Utilities Group Co.Ltd(000685) 8 convertible bonds per share. After the priority placement, the balance will be issued to public investors online through the trading system of Shanghai Stock Exchange. The convertible bond conversion period starts from the first trading day (September 29, 2022) six months after the end of its issuance (March 29, 2022) to the maturity date of the convertible bond (March 22, 2028, postponed in case of holidays).
Lianhe credit rating Co., Ltd. has carried out the credit rating of this heavy bank convertible bond. Its main credit rating is AAA, the rating outlook is stable, and the bond credit rating is AAA.
Bank Of Chongqing Co.Ltd(601963) said that all the funds raised by this issuance of convertible bonds, after deducting the issuance expenses, will be used to support the healthy development of Bank Of Chongqing Co.Ltd(601963) future businesses, and will be used to supplement the bank’s core tier 1 capital in accordance with relevant regulatory requirements after the convertible bonds are converted into shares. (Wang Yi)
