Fubon, ICBC Asia jump on improved bond market
Fubon Bank and Industrial and Commercial Bank of China's Hong Kong subsidiary sold lower tier two bonds on Monday, taking advantage of improved market sentiment in Asia after the Irish government applied for a bail-out from the European Union.
The two banks both sold Reg-S only lower tier bonds, tapping investors in a tightening market that ended with Asia's iTraxx investment grade index around 4bp tighter by the end of Hong Kong trading. Bankers put this performance mainly down to weekend reports that the Republic of Ireland
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