HSBC has been appointed credit rating adviser to the government-owned agency in a decision that further underlines the bank's status as the most active international lead manager and adviser to corporate and sovereign Hong Kong. For HKMC, the move also signals an acceleration of plans to diversify its funding base after a difficult year trying to build its domestic mortgage portfolio.
Since its incorporation in March 1997, HKMC has been an active issuer in the Hong Kong dollar bond market, launching a record-breaking HK$5 billion $640 million fixed rate deal via HSBC yesterday Wednesday. However, the agency has yet to fund itself through the international...
