China’s Shengjing Bank proposes up to RMB 7 billion bond issue

By Marisa Wong

Madison, Wis., Jan. 26 – Shengjing Bank Co., Ltd. announced it plans to issue up to RMB 7 billion of financial bonds.

The bonds will have maturities of less than five years and will carry a coupon determined through a public tender process.

Proceeds will be used for loans to small and miniature enterprises.

The proposed issuance is subject to shareholders’ approval at an upcoming general meeting as well as regulatory approval.

The commercial bank is based in Shenyang, China.

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