(Yicai Global) May 22 -- China Minsheng Bank is carrying out intensive road shows in Beijing and Shanghai ahead of the issuance of up to CNY40 billion (USD5.8 billion) in perpetual bonds, Yicai Global has learned from several market insiders.
Insiders disclosed that the issurance has attracted great attention from inter-bank market institutions, including banks and insurance companies.
The issuance is expected to be completed by the end of this month, which may be the first perpetual bond issued by a Chinese joint-equity commercial bank. The state-owned Bank of China completed the first issuance of a perpetual bond at the beginning of this year.
Perpetual bonds do not have a set maturity date and can be included in tier one capital of banks under the Basel III Framework to increase their capital adequacy ratio.
Editor: William Clegg