Don’t write off Asian dollar demand just yet, say bankers

22 Jan 2013

Distribution statistics on recent dollar denominated Reg S hybrid issues are showing a lower participation of Asian investors for subordinated bank debt deals than in the past. But bankers are reluctant to call time on the market, saying investors will continue to be enticed by the right names, despite plummeting yields.

KBC Bank roadshowed in both Asia and Europe in preparation for the $1bn 10 non-call five year contingent capital notes that it priced last Friday. But the final allocation figures revealed that Asian accounts took a far lower ...

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