China Minsheng Banking Corp., Ltd. (01988) completed the issuance of 30 billion yuan perpetual capital bonds.

China Minsheng Banking Corp., Ltd. (01988) announced that it has successfully issued the "China Minsheng Banking Corp., Ltd. 2025 Perpetual Capital Bonds (Series 1)" on the national interbank bond market and completed the registration and custody of the bonds at the China Central Depository & Clearing Co., Ltd. The bonds were bookbuilt on June 19, 2025 and issued on June 23, 2025. The total issuance size is RMB 30 billion, with a step-up coupon rate structure where the coupon rate is adjusted every 5 years. The initial coupon rate for the first 5 years is 2.30%, and the issuer has the option to redeem the bonds conditionally after the 5th year and on each subsequent interest payment date. The funds raised from this bond issuance will be used to supplement the bank's other Tier 1 capital, subject to applicable laws and regulatory approvals.