The Hong Kong and Shanghai Banking Corporation HSBC has become Asia's first domestic currency issuer to market and syndicate a debt offering on-line. A HK$2 billion Floating Rate Certificate of Deposit FRCD launched yesterday also represented the first test of the bank's new global electronic syndication platform in Asia.
Some 70 to 80 institutional investors and banks have been given access to the new site where they will find syndication invitation letters, terms and conditions, a summary of HSBC's HK$40 billion CD program, fixed income credit research and the most recent financial highlights of the bank.
Says Bryan Pascoe, HSBC's head of debt syndication, users...
