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Julius Baer sells second Singdollar perpetual bond

Singapore

JULIUS Baer Group on Thursday sold S$325 million 5.75 per cent perpetual Additional Tier 1 (AT1) bonds to cash-rich investors looking to redeploy their funds.

These were the second Singdollar AT1 perpetuals sold by the Swiss private bank which calls Asia its second home market.

The initial price guidance was around 6 per cent and orders reached over S$1 billion but when the final price was lowered to 5.75 per cent, "some (investors) dropped out" and the final order book was S$800 million,...

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