By Reshmi Basu
New York, April 22 - Dah Sing Bank Ltd. priced $150 million 10-year notes at par to yield Libor plus 60 basis points, according to a market source.
The floating-rate subordinated lower tier II bonds are callable on May 6, 2010 at par. If the bonds are not called, the rate will step up 100 basis points.
Deutsche Bank is the sole bookrunner for the issue.
The issuer is Hong Kong-based financial institution.
| Issuer: | Dah Sing Bank Ltd.
|
| Amount: | $150 million
|
| Issue: | Floating-rate subordinated lower tier II notes
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| Maturity: | May 5, 2015
|
| Coupon: | Libor plus 60 basis points
|
| Issue price: | Par
|
| Yield: | Libor plus 60 basis points
|
| Call option: | Callable on May 6, 2010 at par, then steps up 100 basis points
|
| Pricing date: | April 22
|
| Settlement date: | April 29
|
| Bookrunner: | Deutsche Bank
|
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