Bocom boosts Tier 1 ratio

China's fifth largest bank becomes the first of the year to raise additional Tier 1 capital in the offshore markets, attracting strong demand.

Bocom boosts Tier 1 ratio
Strategic stake: Going once, going twice...

Bank of Communications Bocom on Wednesday became the first Chinese bank this year to raise additional Tier 1 AT1 subordinated bank capital in the offshore markets. 

The Basel III-compliant preference share offering was not as large as ICBC's $2.94 billion transaction from December in terms of issue size or investor demand, but the $2.45 billion deal arguably had a lot more momentum given how subdued market conditions remain.

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