A weighty pipeline of bank capital bonds from Chinese banks does not yet appear to have deterred investors who were offered two very contrasting Tier 2 transactions on Wednesday.
Earlier this summer, China's big five banks announced plans to raise a total of Rmb270 billion $44 billion in Tier 2 capital through the onshore and offshore debt markets in order to make themselves Basel III-compliant.
It presages an important new sector for the Asian debt markets but has been some time in coming while the banks waited to report their third quarter results. However, Bank of China has now set the...
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