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Basel III dollar issue from Asia, at last 

September 24, 2013
Christopher Langner, IFR Asia

Two banks in Asia intend to offer the first capital-eligible bonds to comply with Basel III regulations, providing a chance to gauge demand and pricing for the new asset class in the region.

Philippine lender Metropolitan Bankis expected to begin marketing a potential dollar-denominated Tier 2 Reg S-only Basel III-compliant bank capital bond on Friday. JP Morgan and UBS are bookrunners on the offering, which will be rated Ba1.

It will be the first such offering from the Philippines and, possibly, the first public dollar-denominated new style bank capital bond in the region.

Read more: IFR Asia

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