NCB boosts capital with $1.2bn AT1

NCB boosts capital with $1.2bn AT1

According to analysts at MUFG Securities, fair value for the new notes is at 4.9% when benchmarked against comparable China Cinda Finance's 4.45% perp callable in 2021. NCB is an indirect wholly-owned subsidiary of state-owned China Cinda Asset Management Co. Its bond will be non-callabale for...

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Bibliographic Details
Published in:Global Capital 2017-05
Main Author: Kumar, Rashmi
Format: Article
Language:eng
Subjects:
Bond issues
Commercial banks
Fair value
International finance
Online Access:Get full text
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Summary:According to analysts at MUFG Securities, fair value for the new notes is at 4.9% when benchmarked against comparable China Cinda Finance's 4.45% perp callable in 2021. NCB is an indirect wholly-owned subsidiary of state-owned China Cinda Asset Management Co. Its bond will be non-callabale for the first five years, after which the coupon will be reset on the first call date and every subsequent five years to the five year US Treasury rate at...
ISSN:2055-2165