Sole bookrunner UBS completed an upsized Reg-S lower tier-2 10-year non-call 5 Eurobond for Lippo Bank worth $200 million on Wednesday November 15. The deal garnered huge demand with an order book topping 13-times oversubscription. The lead was able to leverage that demand into an upsized final deal that priced inside of initial guidance.
UBS roadshowed the deal Monday through Wednesday earlier this week, stopping in Hong Kong, Singapore and London. Guidance was formally announced on Tuesday in Asia for a $150 million deal looking to close in the region of 7.5%.
As the book built momentum UBS opted to tighten the metrics. By Wednesday night the lead was able to upsize to $200...
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