Hopewell comes back

Hopewell Holdings is looking to raise HK$2.5 billion ($320 million) five-year credit. Bank of China, China Construction Bank and Citigroup won the mandate and launched the deal into general syndication earlier this week. Invitations have been sent out offering a margin of 45bp for an all-in yield of 53bp to banks committing at the top tier. This is significantly less then the 86bp paid out on its last publicly syndicated deal, a $108 million financing - however this was completed back in 1994. Although Hopewell Holdings has been quiet in the open market, it has raised funds through a series of bilaterals and club deals, the last of which was as recent as June 2001.