Fubon HK, Shanghai Real sell bonds in choppy mart
Two Asian international bonds were priced this week in difficult market conditions — for the Hong Kong branch of Taiwan's Fubon Bank and Chinese property company Shanghai Real Estate — and a stream of transactions is expected next week, after the Easter holiday.
Fubon Bank (Hong Kong) got its $200m lower tier two capital issue away yesterday (Wednesday) at the wide end of the price range indicated last week of 75bp-80bp over mid-swaps.
Lead manager HSBC priced the 10 year non-call five deal at mid-swaps plus 80bp. But with US Treasury yields
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