Shinsei returns to preferred market for ¥9bn capital boost
Shinsei Bank, the troubled Japanese lender, is set to sell ¥9bn ($67m) of preferred securities in an attempt to boost its tier one levels for the second time this year. Shinsei is raising the money from a pair of perpetual deals, a ¥5bn tranche paying 4.55% over 12 month yen Libor to maturity, and a ¥4bn deal paying 5.5% until July 2015 and then switching to the same floating rate coupon as the first bond.
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