Chohung replenishes capital

Big order books return to Asian debt deals.

Chohung Bank priced a dual upper and lower tier 2 deal yesterday Monday through initial price guidance after attracting an order book topping $4 billion. Investor appetite for the deal represents a complete turnaround compared to June when NACF and IBK struggled into the market and became the last two Korean banks to tap the sub debt sector for four months.

The strong trading performance of both deals since then and the unusually...

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