By Marisa Wong
Los Angeles, Nov. 3 – Dah Sing Bank, Ltd. priced $300 million of 3% fixed-rate reset notes due 2031 at 99.389, according to a pricing supplement.
The coupon resets after five years to Treasuries plus 195 basis points.
Citigroup Global Markets Ltd., Hongkong and Shanghai Banking Corp. Ltd. and MUFG Securities Asia Ltd. are managers for the Regulation S offering.
The notes were issued under the bank’s $2 billion euro medium-term note program.
Proceeds will be used for general banking and other corporate purposes.
The bank is based in Hong Kong.
| Issuer: | Dah Sing Bank, Ltd.
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| Issue: | Fixed-rate reset notes
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| Amount: | $300 million
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| Maturity: | Nov. 2, 2031
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| Managers: | Citigroup Global Markets Ltd., Hongkong and Shanghai Banking Corp. Ltd. and MUFG Securities Asia Ltd.
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| Coupon: | 3% initially; resets on Nov. 2, 2026 to Treasuries plus 195 bps
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| Price: | 99.389
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| Call option: | On Nov. 2, 2026 and any interest payment date after that
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| Put option: | No
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| Pricing date: | Oct. 26
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| Issue date: | Nov. 2
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| Distribution: | Regulation S
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| ISIN: | XS2393542548
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