BEA reopens bank capital market for Asia

By Alice Huang
22 May 2020

Bank of East Asia (BEA) sold the first Basel III compliant tier two dollar bond in Asia since the global outbreak of Covid-19. It raised $600m on the back of a book that was more than 8.5 times oversubscribed at its peak.

The Asian bank capital market started 2020 on a positive note. Bank Tabungan Negara sold the first subordinated Basel III-compliant bank capital deal from an Indonesian issuer in January, for instance. The $300m tier two bond was popular in both the primary and secondary market, trading 20bp ...

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