By Marisa Wong
Morgantown, W.Va., Jan. 11 – China Minsheng Banking Corp., Ltd. issued RMB 15 billion of 4.7% tier 2 capital bonds, according to a company announcement.
The 10-year bonds are callable at the end of the fifth year.
In June 2017 the company said it obtained approval from the China Banking Regulatory Commission to issue up to RMB 30 billion of tier 2 capital bonds. The company sold an initial tranche totaling RMB 15 billion in September.
Proceeds from the current tranche will be used to replenish the company’s tier 2 capital.
China Minsheng is a Beijing-based bank.
| Issuer: | China Minsheng Banking Corp., Ltd.
|
| Issue: | Tier 2 capital bonds
|
| Amount: | RMB 15 billion
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| Maturity: | 10 years
|
| Coupon: | 4.7%
|
| Call option: | At end of fifth year
|
| Announcement date: | Jan. 11
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