Asian institutional investors wary of Basel III-compliant bonds' risk profile

Issuance of Basel III-compliant bonds in India likely to be followed in Australia and Malaysia but investors are cautious of potential dangers


United Bank of India's (UBI) recent issuance of the first Asian Basel III-compliant Tier II bonds – created to meet tougher standards introduced across the region in 2013 – is set to be followed by firms in Malaysia and Australia in the near future. However, uncertainty over the levels of risk they contain is likely to limit interest from investors across the region.

UBI's INR5 billion ($86.2 million) 10-year bond was issued at the end of June, a few weeks after Malaysian bank CIMB received

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