Asian investors flock to StanChart's $1 billion subordinated bond

Standard Chartered priced a $1 billion subordinated bond on Wednesday night that was heavily bought by Asian investors. Despite its London listing, the bank enjoys name recognition among Asian investors thanks to its broad footprint in the region.

Asian investors were by far the biggest buyers, accounting for 62% of the allocation. This was followed by Swiss investors 17% and UK investors 10%. The rest went to Germany, Benelux and the US. Private banks were allocated 54% of the deal and the two other major buyers were banks 19% and insurers 13%.

“We’ve seen a lot of European bank capital getting placed in Asia,”...