Nanyang lands tier two bond despite turmoil

Hong Kong island adobe stock 230x150
By Addison Gong, Morgan Davis
14 Nov 2019

Investors looked beyond Nanyang Commercial Bank's Hong Kong home to its Chinese parent this week, allowing the borrower to close a $700m Basel III-compliant tier two subordinated deal, despite the protests happening in the city.

Nanyang rolled out its dollar transaction on Wednesday, as the violent clashes between police and protesters in Hong Kong dragged into their third consecutive day. But bankers on the deal said that Nanyang's base in Hong Kong did not impact on its ability to build a book, as ...

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