Huishang sets unrated AT1 benchmark

摘要

Huishang bank corp on Thursday priced Asia's first unrated Additional Tier 1 offering in the international markets to yield 5.5%, having tightened guidance from the 5.75% area. The Chinese bank had approval to raise up to the eguivalent of Rmb6bn. It used the full US$888m amount for the perp non-call five issue, an auspicious figure given that the Mandarin word for eight sounds similar to the one for wealth.