Tag: hybrid

The offering, made up of perpetual callable notes with a step-up coupon and preference shares, marks the first bank capital deal in Asia in 12 months. The leads prepare a new $100 million perpetual deal for the eighth largest lender in the Philippines. The Aussie retailer cuts back orders for its A$600 million in fixed-margin floating-rate notes as they price at the tighter end of the bookbuild range. Pricing likely to be favourable for the Australian explosives company thanks to a new ratings treatment and a five-year step-up structure. Philippine domestic bank to issue hybrid tier 1 deal to bolster capital under new accounting standards. Bank bolsters capital with hybrid tier 1 deal. Offer opens on A$259 million exchangeable note deal. HVB Asset Management packages together $1 billion of ABS paper and credit default swaps. Korea Exchange Bank (KEB) has issued the country''s first RFP for a hybrid tier 1 issue, joining Hana Bank, which is already planning a deal via Morgan Stanley. UBS Warburg''s innovative floating IPO exchangeable reset security (or FLIERS) attracts big interest from institutions and is now selling to retail investors. Bank capital securities are capturing the attention of Asia''s higher rated banks, with DBS, Maybank and OCBC all preparing to bring deals over the next couple of months.