China Minsheng rakes in $800m from anchored deal

Morgan Davis

September 06, 2017 10:15 AM

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 raised $800m from a dual-tranche floating rate deal on Tuesday, with some bankers describing it as a club-style bond because of the 18-strong syndicate group behind it.

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Topics

China Minsheng Banking Corp China Citi ICBC Asia Greater China Bank of Communications Senior Debt Northeast Asia Asia Pacific Emerging Markets FIG

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Morgan Davis

Deputy editor GlobalCapital Asia