China CITIC Bank International plans dollar, offshore yuan perpetual bonds

China CITIC Bank International plans to issue additional tier 1 perpetual bonds in US dollars and offshore yuan, with initial price guidance of around 5.45% for the dollar tranche and around 2.90% for the yuan tranche. The benchmark-sized deals will strengthen the lenders capital base and absorb potential losses, with proceeds earmarked for funding and general corporate purposes after a five-year redemption period in July 2031.