With the SARs crisis seemingly averted following the removal of Hong Kong and China from the World Health Organisation's list several Hong Kong blue chips have been eyeing a return to the market. Hongkong Land has become the first big name to take advantage by launching a HK$4.7 billion $602 million seven-year fundraising on Wednesday.
Banks have been invited to join at a margin of 42bp over Hibor and can earn front end fees on three levels. Arrangers absorbing HK$200 million $25.5 million receive 45.5bp, co-arrangers committing HK$100 million $12.8 million to HK$190 million $24.4 million are paid 35bp and senior managers providing HK$50 million $6.5 million...
