hang-seng-bank-to-issue-debut-dollardenominated-bond-offering

Hang Seng Bank to issue debut dollar-denominated bond offering

The Hong Kong bank is looking at increasing its capital adequacy ratio in order to support future loan growth.
June 15, 2006
Hong KongÆs Hang Seng Bank has hired parent company HSBC as sole arranger and sole bookrunner on a proposed dollar-denominated lower tier 2 subordinated debt offering. The deal will have a 10-year non-call five year structure.

The deal is expected to be a mid-sized benchmark offering. This will be the first dollar-denominated deal for Hang Seng.

Roadshows will kick-off in Hong Kong later today June 15 before moving onto Singapore on Monday June 19.

Like most deals that have been mandated in recent weeks, the timing of the Aa3A rated deal will depend on how the market acts over the next few weeks.

As of December 31, Hang Seng had a total capital...
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