May. 3, 2012 (China Knowledge) - China Minsheng Banking Corp Ltd<600016
>, the first privately owned bank in the country, today announced plans to issue not more than RMB 20 billion worth of bonds with a maturity of five years on the interbank market starting May 8 to May 10.
Coupon rate will be determined in the process of bookbuilding. Both value date and payment due date is set on May 10.
Dagong Global Credit Rating Co has rated the issuer and fixed-rate bonds AAA and AAA, respectively.
Haitong Securities Co<600837
> and UBS Securities have been assigned as the joint lead underwriters.
This will be the issuer's second bond this year.
Proceeds from the issue will be exclusively used to support loans to small and medium-sized enterprises. As of Dec. 31, 2011, the issuer had RMB 105.22 billion in outstanding loans to SMEs, 32.3% more than the end of 2010.