A branch of Bank of Jinzhou in Beijing, pictured on November 1, 2017. Photo: Imaginechina
A branch of Bank of Jinzhou in Beijing, pictured on November 1, 2017. Photo: Imaginechina

Fed hawks push top Chinese banks to pay off US$12 billion of perpetual debt as funding costs surge, market reputation at stake

  • Perpetual securities sold by Chinese lenders to replenish their capital in 2017 are due for a big coupon step-up in the coming weeks, if not redeemed
  • For the Bank of Jinzhou, the move to repay its perpetual preference shares next month will come at a cost.

A branch of Bank of Jinzhou in Beijing, pictured on November 1, 2017. Photo: Imaginechina
A branch of Bank of Jinzhou in Beijing, pictured on November 1, 2017. Photo: Imaginechina
READ FULL ARTICLE