Swire Pacific steps up to the plate

Cut throat enviroment continues as pricing is pushed down another notch.

Swire Pacific has become the latest Hong Kong blue chip to look for funds, launching a HK$2 billion $256 million five year revolver late last night. Mandated arrangers HSBC and Standard Chartered fully underwrote the deal.

Banks have been invited to join at a margin of 32bp over Hibor and on one of three fee levels. Co-ordinating arrangers pledging HK$200 million $25.6 million or more gain 37.5bp, lenders contributing HK$100 million $12.8 million to HK...

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