Feb. 7, 2012 (China Knowledge) - China Minsheng Banking Corp Ltd<600016
>, the first privately owned bank in the country, announced today that it plans to auction off RMB 30 billion of financial bonds with a maturity of five years on February 10.
The bank said in a statement that the bonds will be issued at face value, and the coupon rate will be determined during the process of bookbuilding.
Both value date and payment due date is set at February 14.
Dagong Global Credit Rating Co Ltd has rated the bonds and the issuer AAA and AAA, respectively.
Haitong Securities Co Ltd<600837
> and UBS Securities Co have been hired as joint lead underwriters for the offering.
Proceeds from the deal will be used for loans to small businesses.