Hong Kong's Dah Sing Bank buys back $75 million of its perpetual notes

By Devika Patel

Knoxville, Tenn., April 23 - Dah Sing Bank Ltd. said it completed an offer for up to $75 million of its remaining $130 million of perpetual subordinated notes.

In all, $75 million in notes were repurchased for $75.62 million and cancelled. There are $55 million in notes remaining.

Noteholders tendered their securities at a price between 95% and 100% of par.

The offer launched on March 26.

In June 2009, the company bought back $70 million of its original $200 million of notes.

The issuer is Hong Kong-based financial institution.

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