Cho Hung Bank launches $250 million loan

Pricing on the present deal is not only less than half what Cho Hung paid in 2000, but also cheaper than what Shinhan Bank is paying for its fixed rate bond deal.

The seven-bank coordinating arranger group comprising of ABN AMRO, Credit Lyonnais, DBS, Natexis Banques Populaires, Standard Chartered and Sumitomo Mitsui Banking Corporation SMBC launched a two-year $250 million Cho Hung Bank loan into sub-underwriting last week. ING Bank is the publicity agent for the transaction, which was launched to a select group of underwriters. Sub-underwriting will be closed toward the end of this week following which the deal will be launched into general syndication.

The deal pays...

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