McDonaldÆs debuts in Hong Kong dollar bond market

Mcdonald's Corporation launched a debut HK$600 million issue off its EMTN programme yesterday (Wednesday). Led by Barclays, the fixed rate bond carries a coupon of 5.44% and matures in June 2007. Pricing came at 99.75% to yield 44bp over Hibor, and had already tightened to 41bp over by late afternoon. Bank of East Asia and Standard Chartered were co-managers.