BEA bolsters capital base with $450m lower tier two
Bank of East Asia became the latest Asian financial institution to sell 10 year bullet lower tier two bonds last week, raising $450m from an issue that rival bankers said suffered from poor — or unlucky — timing.
Citi and JPMorgan arranged the $450m bond, which priced at a spread of around 320bp over Treasuries. That was wider than where comparable bonds from Dah Sing Bank and Standard Chartered were trading, leading some bankers to question the pricing of the issue.
"It should be considered a better
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