China Minsheng Bank to issue up to 50B yuan of convertible bonds
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China Minsheng Banking Corp. Ltd. plans to issue up to 50 billion yuan of convertible bonds.
Proceeds from the exercise will be included in the lender's core Tier 1 capital upon conversion, according to a Jan. 7 release.
The move has received regulatory approval.
As of Jan. 7, US$1 was equivalent to 6.94 Chinese yuan.
