On July 8, Chong Hing Bank (CHB) successfully issued additional tier-one capital securities of USD400 million with an annual interest rate of 5.7%. This is the second issuance of tier-one capital securities by CHB after the first issuance of additional tier-one capital securities in 2014. The funds raised will be used to strengthen the capital base and help CHB to carry out the established strategic plan.
In addition to the underwriters and private banks, the offering was heavily subscribed by investors including BlackRock, Fidelity International, Invesco, Mirae Assets, Prudential, and AXA, as well as well-known Chinese institutional investors China Life Franklin, Bosch Fund, E Fund, Gordon International, and Southern Fund, reflecting that CHB has been recognized by the capital market, and it eventually enlarged its issuance scale from USD300 million to USD400 million.
