Dah Sing prepares new lower tier 2 sub-deal

Hong Kong bank gets set to price third subordinated deal in two years.

Dah Sing Bank has hired HSBC to sell a new $150 million lower tier 2 subordinated offering. The deal will have a 10-year no-call five year maturity, and could be completed either later this week or early next week.

The borrower will hold individual meetings with investors throughout the week.

Obvious comparables for the new deal are its two existing subordinated transactions. Last year the bank sold a lower-tier 2...

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