By Wendy Van Sickle
Columbus, Ohio, June 17 – China Minsheng Banking Corp., Ltd. sold RMB 5 billion of 4.2% write-down undated capital bonds, according to a notice.
The coupon is subject to adjustment every five years.
The notes are callable annually starting after five years.
The Beijing-based banking company said it will use proceeds to replenish additional tier-one capital.
| Issuer: | China Minsheng Banking Corp., Ltd.
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| Amount: | RMB 5 billion
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| Issue: | Write-down undated capital bonds
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| Term: | Perpetual
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| Coupon: | 4.2% initially, subject to adjustment every five years
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| Call: | Callable on interest payment date on fifth year and annually thereafter
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| Pricing date: | June 14
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| Issue date: | June 16
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