Minsheng Bank to issue 15 bln yuan in subordinated bonds
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China Minsheng Banking Co. Ltd. is considering issuing 15 billion yuan (US$2.21 billion) in subordinated bonds in a bid to shore up its capital fund, said Zhao Pinzhang, vice president of the bank, in a news briefing on Tuesday.
Zhao said Minsheng Bank may replenish its core capital appropriately, but there is no timetable for the issuance at the moment.
Minsheng Bank is trying to keep its capital adequacy ratio (CAR) above 10 percent through the end of 2011 and its core capital adequacy ratio (CCAR) over 8 percent, Zhao added.
As of June, the bank's CCAR was 8.32 percent and its CAR was 10.77 percent.
China's business press carried the story above on Wednesday. China.org.cn has not checked the stories and does not vouch for their accuracy.
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