Minsheng Bank (01988) announced that the bank successfully issued the "China Minsheng Bank Co., Ltd. 2024 Perpetual Capital Bonds (First Tranche)" in the national interbank bond market, and completed the registration and custody of the bonds at the China Central Depository & Clearing Co., Ltd.
This bond issue was registered and filed on August 15, 2024, and was issued on August 19, 2024. The issuance size is RMB 30 billion, and this bond adopts a phased adjustment of the coupon rate, with a coupon rate adjustment period of every 5 years. The coupon rate for the first 5 years is 2.35%, and the issuer's redemption right is attached on each interest payment date after the 5th year.
The funds raised from this bond issue will be used to supplement the bank's other Tier 1 capital, subject to the approval of applicable laws and regulatory authorities.
