Bank of China (Hong Kong) returns with $900 million tap

Bank of China (Hong Kong) has reopened its recently issued 10-year bond deal with a $900 million tap, bringing the total deal size to $2.5 billion.

Bank of China (Hong Kong) has returned to the Asian debt market with a $900 million tap of its existing 10-year 5 5% lower tier-2 subordinated bond that was launched and priced on February 4 this year

The issue was the largest non-sovereign tap from Asia to date and increased the Reg-S/144A bond to $2 5 billion from $1 6 billion

The initial price guidance was announced mid-afternoon Monday (Hong Kong time) at 176bp to 181bp over the equivalent 10-year US Treasury yield This was later revised, at the close of London trading, to a final guidance of Treasuries plus 176bp At the same time, the deal size...

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