China Minsheng Bank grabs $1.4bn from new AT1

china minsheng px230
By Morgan Davis
08 Dec 2016

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.

Joint global co-ordinators CMBC International, CMBC Hong Kong branch, Goldman Sachs, ICBC International and UBS launched the perpetual non call five on Wednesday morning with price guidance at the 5.25% area, following fixed income investor meetings in Hong Kong on Tuesday

Final price guidance was issued at 4.95% (the ...

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