Catering to Asia’s bank capital appetite

The perpetual tier-1 bond issue by Julius Baer in mid-November marks the latest example of European banks seeking Asian investor support to secure cornerstone capital bond issues.

Julius Baer's S$450 million $317 million additional tier 1 AT1 issuance, on November 13, is just the latest development in a string of European banks securing capital from Asian Investors.

On April 9, Dutch bank ING topped up its capital base with a $2.25 billion alternative tier-1 transaction. US investors, as expected, took most the bonds. But 30% of the issue also ended up in the hands of extremely eager Asian investors. 

According to bankers in involved in various European bank debt capital issuances this year, securing the Asian portion of allocations has been key to the success of many European bank Basel...

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