Asian dollar AT1s to make triumphant return after BOC HK

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By Addison Gong
13 Sep 2018

Asia’s Basel III compliant additional tier one market is set for a turnaround after a quiet year, following Bank of China (Hong Kong)’s $3bn issuance this week. As the pipeline builds up, bankers are predicting a pick-up in deal flow as early as next month, writes Addison Gong.

The pricing of BOC HK’s perpetual non-call five year bond at 5.9% on Tuesday marked the end of a drought in the dollar AT1 market from a Chinese lender, since Bank of Chongqing Co’s $750m 5.4% perp last November.

The deal was also only the second such outing in ...

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