China Minsheng Bank grabs $1.4bn from new AT1

Morgan Davis

December 08, 2016 12:00 pm

china minsheng px230 — --FILE--View of a branch of China Minsheng Banking Corp. Ltd. in Chongqing, China, 25 February 2011. China Minsheng Banking Corp., the nations first non-state lender, said it plans to raise as much as 29.4 billion yuan (US$4.5 billion) by selling shares and convertible bonds to boost its capital adequacy ratio. The bank will issue up to 20 billion yuan of convertible bonds in Shanghai and has canceled a plan to issue local-currency shares in a private placement, according to a filing to the Hong Kong stock exchange. Minsheng will also issue as many as 1.65 billion new H-shares in Hong Kong, the statement said. | Xiao chen cq/AP/Press Association Images

China Minsheng Banking Corp grabbed the market’s attention on Wednesday, raising the maximum amount it had approval for with its debut additional tier one note, and getting away with little new issue premium.

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China Minsheng Banking Corp UBS China ICBC Greater China Bank Capital Asia Northeast Asia Asia Pacific Emerging Markets FIG Goldman Sachs

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Morgan Davis

Deputy editor GlobalCapital Asia