trending Market Intelligence /marketintelligence/en/news-insights/trending/ifY-yhcl8cqu_bNGpeJVeQ2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us
In This List

Fitch: Dah Sing Bank to raise US$225M in debt issue

Banking Essentials Newsletter - November Edition

University Essentials | COVID-19 Economic Outlook in Banking: Rates and Long-Term Expectations: Q&A with the Experts

Estimating Credit Losses Under COVID-19 and the Post-Crisis Recovery

StreetTalk – Episode 70: Banks' Liquidity Conundrum Could Fuel M&A Activity

Fitch: Dah Sing Bank to raise US$225M in debt issue

Dah Sing Bank Ltd. is set to issue Basel III-compliant Tier 2 subordinated notes on Jan. 15 to raise US$225 million, Fitch Ratings said.

The 10-year notes will be issued under the bank's US$2 billion euro medium-term note program. They will be callable after five years and semiannually thereafter. They will carry a fixed interest rate of 5% per annum up to the first call date and reset semiannually thereafter, with the interest rate based on the five-year U.S. Treasury rate plus 255 basis points.

The bank will use proceeds from the issuance to replace current obligations that will become callable in January.

Dah Sing Bank is a unit of Dah Sing Banking Group Ltd.