Wing Hang prices sub debt

A successful debut for Wing Hang Bank as it lifts the issue size on the back of strong demand.

Joint-leads JPMorgan and Morgan Stanley completed a lower tier 2 deal for Wing Hang Bank yesterday Wednesday, bringing pricing inside guidance and marginally lifting the issue size. A $1 billion plus order book was registered for the deal, but since the bank is using proceeds to complete its acquisition of Chekiang First Bank, it decided to cap the final amount at $275 million, just $25 million over the base size.

Having being marketed at a spread...

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