Dah Sing taps international bond market

Dah Sing becomes third Hong Kong bank to issue senior dollar debt.

Dah Sing Bank entered the international bond markets on Friday raising $300 million from a split fixed rate and FRN issue via HSBC. In doing so it became the third Hong Kong bank to access the US dollar market in as many months following a $400 million issue for ICBC in September and a $300 million issue for Citic Ka Wah Bank just over a week ago.

Baa1A- Fitch rated Dah Sing priced $150 million of five-year fixed rate notes at 99.727% on a coupon of 4.125% to yield 71bp over Treasuries, 31bp over mid-swaps or 27bp over Libor.

It also priced $150 million of...

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