After years of Chinese banks dominating the Asian supply of alternative tier one bonds, banks from countries across the region finally got in on the act in 2016.
DBS Bank raised $750 million in August, smashing the record for the lowest-coupon in the AT1 format by offering the first and so far only such deal from Singapore. State Bank of India opened the offshore AT1 market for Indian borrowers the following month. South Korea's Woori Bank, which made its debut in 2015, has since sold two more deals, including a $500 million bond this week.
Are we approaching a...
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