China’s Shengjing Bank plans to issue up to RMB 30 billion of bonds

By Sarah Lizee

Olympia, Wash., March 27 – Shengjing Bank Co., Ltd. plans to issue RMB 30 billion of bonds to members of the interbank bond market in China, according to a notice.

The bonds will be issued in one or more tranches, of which tier 2 capital bonds will not exceed RMB 15 billion and other types of financial bonds will not exceed RMB 15 billion. Other types of financial bonds include but are not limited to green financial bonds, small-micro enterprise bonds and entrepreneurship financial bonds.

The number of tranches and the size of each issuance will be determined based on the funding requirements of the bank and market conditions.

All bonds will have an up to 10-year term. tier 2 bonds must have a maturity of at least five years.

Interest will be determined based on the market interest rate.

The issue is subject to obtaining shareholders’ approval at an annual general meeting of the bank and obtaining approvals from the People’s Bank of China, the Liaoning Bureau of the China Banking and Insurance Regulatory Commission and other relevant regulatory authorities.

Proceeds will be used to optimize the structure of the bank’s liabilities and capital, stabilize the medium and long-term funding sources of the bank, and support the bank’s medium and long-term asset business.

The commercial bank is based in Shenyang, China.

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