Chicago, July 27 – Chong Hing Bank Ltd. announced that it has issued $250 million 5˝% undated non-cumulative subordinated additional tier 1 capital securities (Ba2), according to a notice.
The notes are being issued under the company’s recently established $2 billion medium-term note and perpetual capital securities program.
Managers for the issue are BOCI Asia Ltd., CMBC Securities Co. Ltd., CMB International Capital Ltd., CLSA Ltd., Yue Xiu Securities Co. Ltd., Chong Hing Bank Ltd., ABCI Capital Ltd. and CCB International Capital Ltd.
Parent Guangzhou Yue Xiu Holdings Ltd. intend to subscribe for up to $25 million of the principal amount of the securities.
Chong Hing is a Hong Kong-based lender.
| Issuer: | Chong Hing Bank Ltd.
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| Issue: | Undated non-cumulative subordinated tier 1 capital securities
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| Amount: | $250 million
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| Maturity: | Perpetual
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| Bookrunners: | BOCI Asia Ltd., CMBC Securities Co. Ltd., CMB International Capital Ltd., CLSA Ltd., Yue Xiu Securities Co. Ltd., Chong Hing Bank Ltd., ABCI Capital Ltd. and CCB International Capital Ltd.
|
| Coupon: | 5˝%
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| Pricing date: | July 27
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| Settlement date: | Aug. 3
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| Rating: | Ba2
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