Bank of East Asia bond adds to Basel III universe

Hong Kong bank completes its debut Basel III-compliant offering on the back of strong momentum in the bank capital sector.

Bank of East Asia bond adds to Basel III universe

Bank of East Asia completed its debut Basel III compliant Tier 2 bond on Thursday, raising $500 million from a deal that underlined how comfortable investors are becoming with the new asset class.

The BBB- rated issue was priced at 99.608% on a semi-annual coupon of 4.25% to yield 4.338% or 270bp over Treasuries. The deal has a 10-year non-call five structure, with the call option falling due on November 20 2019 and the...

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