Citic Ka Wah mandates perpetual dollar bond

One of Hong Kong''s most dynamic financial credits has set its sights on an undated upper tier 2 debt issue.

In what should mark the final piece of funding needed for the acquisition of Hong Kong Chinese Bank HKCB, a $200 million to $300 million deal is being lined up for launch in mid to late April under the lead management of HSBC, ICBC and UBS Warburg.

In the space of one year, Citic Ka Wah CKW has become one of the most interesting credits in the Greater China universe and over the past month, one of the best performing. From being just one among many small Hong Kong banks fighting for survival in a crowded market, CKW is now perceived to be the driving force behind its parent Citic Beijing's ambitious attempt...

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