HSBC launches Aussie dollar loan for Hong Kong Electric

Despite turbulent market conditions pricing for Hong Kong blue chips continues to tighten.

Hong Kong Electric HKE is tapping the market for a A$700m equivalent five year bullet refinancing. HSBC is running the books on the deal and underwrote the transaction along with arrangers Bank of China, Hang Seng bank and Standard Chartered.

The credit has been launched straight into general syndication and banks have the option of lending in either US dollars for a margin of 28bp or Australian dollars at 30bp. Arrangers pledging the equivalent of A$30m or more earn an all-in of 29bp for US dollar commitments and 31bp for Aussie dollar contributions and lead managers committing A$5m to A$29m equivalent gain 28.5bp or 30.5bp respectively.

According to figures supplied by...

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