Bank Of East Asia Ltd. (0023.HK) has priced its S$600 million Singapore dollar bond with a maturity of 10 and a half years and a yield of 4.25%, one of the banks on the deal said Tuesday.
The blue-chip Hong Kong lender plans to use the proceeds from the Reg S subordinated notes to replenish Tier 2 capital.
The bond is callable after five and a half years.
Citigroup, DBS Bank and Standard Chartered Bank were joint bookrunners for the deal.
The terms of the transaction are as follows:
Amount: S$600 million
Maturity: September 13, 2022
Reoffer Price: 100%
Payment Date: March 13, 2012
Debt Ratings: A2 (Moody's)
A (Standard & Poor's)
Denominations: SGD 250,000
-By Sarka Halas, Dow Jones Newswires; +44 (0) 207 842 9236; Sarka.Halasova@dowjones.com