Hutch postpones euro deal

Asia's most market savvy borrower has been forced to make a rare tactical withdrawal after volatile markets made it impossible to deliver the kind of size or pricing it was looking for. Plans for a Eu1 billion 10-year offering and Sterling 350 million to Sterling 500 million 12-year deal were effectively scratched within hours of bookbuilding on Monday, although the transaction was not formally postponed by the three leads - Deutsche Bank, HSBC and JPMorgan - until late on Tuesday evening.