China Minsheng Banking (HKG:1988, SHA:600016) completed the issue of 40 billion yuan of 10-year bonds carrying a 2.35% coupon rate, a Tuesday filing with the Hong Kong bourse said.

The lender is entitled to redeem the bonds at the end of the fifth year.

The company will use proceeds from the issue to replenish its tier-two capital and improve the capital adequacy ratio.