Bank of East Asia steps back into the debt markt

Bank of East Asia, Hong Kong largest independent bank, has announced a Reg S $400 million subordinated bond deal with Citigroup and Goldman Sachs appointed as bookrunners. The BBB/Baa1 rated deal represents BoEA's first foray into the international debt market since January 2001 when the bank similarly raised a $550 million from a 10-year non call 5-year issue that priced to yield at 7.622% or 187.5bp over Libor.