Citic Ka Wah raises $300 million

Hong Kong bank completes debut international senior bond deal.

Joint lead managers HSBC and UBS priced a $300 million senior fixed rate bond issue for Citic Ka Wah Bank yesterday November 10. The key achievement of the five-year deal was its pricing through the more established and liquid Korean curve.

Pricing came at 99.582% on a coupon of 4.25% to yield 4.344%. This equates to 82bp over Treasuries or 36bp over Libor. Fees were 20bp.

Given how rarely Hong Kong...

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