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Hong Kong's Wing Hang Bank trims talk for lower tier II notes to 9 3/8%-9½% from 9½%-10%
By Paul A. Harris
St. Louis, Sept. 2 - Hong Kong's Wing Hang Bank lowered price guidance on a to-be-determined amount of lower-tier II subordinated notes (A3//BBB+/) on Tuesday, according to an informed source.
The new guidance, 9 3/8% to 9½%, was lowered from earlier guidance of 9½% to 10%.
Deutsche Bank Securities is the bookrunner.
Pricing is expected before the end of the week.
The offering will be a drawdown from Wing Hang Bank's $2 billion medium-term subordinated note program.
Proceeds will be used for general corporate purposes.
Wing Hang Bank provides commercial banking and related financial services.
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