HSBC lands Hong Kong toll securitization

The government picks HSBC to help it raise cash to shore up finances.

HSBC has been appointed to advise the government on its plan to sell bonds backed by toll revenues. The securitization is expected to raise HK$6 billion $778 million as part of the territory's asset disposal programme.

The choice of HSBC is hardly suprising given its dominance in Hong Kong and number one position in the Asian bond league tables. However, some rival banks believe they offered better experience from working on similar deals in other markets and...

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