UOB breaks Asia ex-Japan dollar Basel III silence
The Asia ex-Japan bank capital market sprang back to life this week as United Overseas Bank (UOB) completed the first-dollar denominated trade in the region this year. The deal's strong reception bodes well for those looking to follow but market participants have predicted another lacklustre year in term of volumes, writes Rev Hui.
It has been more than three months since the region's last bank capital transaction in dollars, when China Construction Bank raised $3.05bn via an additional tier one on December 9. For tier twos, the lull has been longer, as ICBC printed $2bn in September 2015.