Banking

China Minsheng Banking to sell 5.8b yuan bonds

(Agencies)
Updated: 2010-06-04 16:59

China Minsheng Banking Corp plans to sell 5.8 billion yuan ($849 million) of 10-year subordinated bonds with help from Haitong Securities Co, according to a statement posted on the Chinabond website.

Related readings:  Minsheng Bank gets nod for subordinated bond issue  Minsheng Banking tops execs' pay list  Minsheng:IPO funds sufficient for current needs

The fixed- and floating-rate notes will be offered on the interbank market on June 10, the statement said.

China's banks are trying to improve their capital ratios after extending a record 9.59 trillion yuan of new loans in 2009, following the government's decision to scrap lending caps as part of efforts to combat the global financial crisis.