Hong Kong's Wing Hang Bank prepping $300 million bond offering

By Paul A. Harris

St. Louis, Aug. 22 - Hong Kong's Wing Hang Bank is meeting with investors in Asia ahead of the anticipated launch of an expected $300 million offering of bonds, market sources told Prospect News on Friday.

No syndicate names were known.

The structure of the bonds remains to be determined. One source said that the deal is unlikely to be rolled out before trading resumes on Sept. 2, following the three-day Labor Day weekend in the United States.

Earlier this month, Moody's Investors Service assigned its A3 long-term foreign- and local-currency ratings to the subordinated and junior subordinated debt to be issued under Wing Hang Bank's new $2 billion medium-term note program.

Fitch Ratings assigned an expected BBB+ to the MTN program.

Wing Hang Bank provides commercial banking and related financial services.

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