Bank of East Asia begins roadshows for debut sub debt issue

A key benchmark for Asia''s newly emerging sub debt sector should be set late next week with the pricing of a $500 million issue for Hong Kong''s fourth largest bank.

In addition to providing the international debt markets with the year's first transaction from Asia, BoEA's 10 non call five deal also heralds what is expected to be a series of offerings from the region's better rated banks, as they seek to adopt more efficient mixes for high capital adequacy ratios.

For BoEA, the lower tier 2 deal will enhance the bank's return on equity and also reboot capital adequacy ratios...

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