Sterling investors aim for Asian bank MTNs

By Kathleen Gallagher
08 May 2014

UK investors are keen for sterling private placements from Asian banks and the demand is expected to bring new issuers to the market. Oversea-Chinese Banking Corporation took advantage of the demand to sell its inaugural note in the currency this week.

“Sterling investors are eager to diversify,” said an MTN dealer. “They are cash rich at the moment and willing to pay up. Asian banks are beginning to tap the market since they are looking to sell more notes overseas and can achieve a good price.”

OCBC stepped up to ...

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