Hong Kong's Dah Sing Bank tenders for $75 million of perpetual notes

By Jennifer Chiou

New York, March 25 - Dah Sing Bank Ltd. announced the start of an offer for up to $75 million of its remaining $130 million of perpetual subordinated notes.

Noteholders may tender their securities at a price between 95% and 100% of par.

The bank said that there will not be a clearing price set for the tender.

The offer is set to end at 1 p.m. ET on April 16. Settlement will occur on April 23.

In June 2009, the company bought back $70 million of its original $200 million of notes.

UBS AG is the dealer manager (852 2971-6433). The Bank of New York Mellon is the tender agent (852 2840-6617).

The issuer is Hong Kong-based financial institution.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.