Huishang AT1 heralds ‘second wave’ of China supply

China’s biggest and best known banks have issued a stream of additional tier one bonds over the last two years. Now, it is time for the smaller players to have their turn.

Since Bank of China opened the market for dollar additional tier one (AT1) bonds from Chinese issuers in October 2014, there have been $20.3 billion of deals. But until this September, only China’s biggest banks had come to the market.

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