Citic gets its war chest

After a sub-debt deal, is an acquisition around the corner for Citic Ka Wah?

 

In what is being proclaimed as the first bank capital deal for a mainland Chinese-owned bank, Citic Ka Wah has successfully launched a $300 million lower tier 2 sub-debt deal.

The deal was upsized from $250 million, while a third of the deal was taken up by Hong Kong accounts, and the rest split between Singaporean and European accounts. Whether or not it should be taken as a surprise, there was very little participation from the US....

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