Hong Kong’s CMB Wing Lung to redeem subordinated notes on Jan. 24

By Mary-Katherine Stinson

Lexington, Ky., Jan. 3 – CMB Wing Lung Bank Ltd. will redeem all its $400 million 6½% undated non-cumulative subordinated additional tier 1 capital securities, according to a notice.

All the outstanding notes will be redeemed at their outstanding amount plus accrued interest on the first call date of Jan. 24.

The notes will be delisted after the redemption.

The securities were issued under the bank’s $2 billion euro medium-term note program.

Based in Hong Kong, the bank is wholly owned by China Merchants Bank.

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