Minsheng Bank to sell bonds

Following the cancellation of a planned IPO in September, China Minsheng Bank now intends to sell up to RMB 1.6 billion in ten-year subordinated bonds, the Standard of Hong Kong reported, citing a statement the bank filed with the Shanghai stock exchange. The bonds will be sold in a fixed-rate tranche and a floating-rate tranche, and will allow Minsheng the option to buy them back after five years, but the pricing has not yet been set nor has the bank yet received the required shareholder and regulatory approval.