Published on 4/30/2024 in the Prospect News Emerging Markets Daily.
New Issue: China Minsheng Banking sells RMB 30 billion 2½% 10-year tier 2 bonds
By William Gullotti
Buffalo, N.Y., April 30 – China Minsheng Banking Corp., Ltd. has issued RMB 30 billion of 2½% 10-year bonds in China’s interbank bond market, according to a company announcement on Tuesday.
The book-built bonds may be called, subject to certain conditions, at the end of five years.
The Beijing-based banking company said the proceeds will be used to replenish the bank’s tier 2 capital and to improve the bank’s capital adequacy ratio.
| Issuer: | China Minsheng Banking Corp., Ltd.
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| Amount: | RMB 30 billion
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| Issue: | Tier 2 capital bonds
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| Maturity: | 10 years
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| Coupon: | 2½%
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| Call: | At the end of the fifth year, subject to conditions
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| Pricing date: | April 25
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| Issue date: | April 29
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