general

Premium rate increases are way down due to cut-throat pricing, says JPMorgan and Deloitte survey.

While the demise of the bond issue was embarassing for Hutch (and its bankers), the present loan deal also has its fair share of controversies.

Loh will also oversee fixed income sales activities.

Strong demand from banks in the sub-underwriting demonstrates rarity value associated with a borrower returning to the loan markets after two years.

Pricing on the current deal is cheaper than a $200 million three-year loan-style FRN earlier this year.

The five-year bullet deal, comprising of a revolver for the first 18 months and a term loan for the remainder of the facility, is priced at a margin of 48bp over Hibor.

Proceeds from the current deal will repay a five-year loan of similar amount tapped by the borrower in June 2000.

General syndication, which is proceeding well, will be closed in three weeks time.

William Hay, previously General Counsel for GE Capital Asia Pacific and ICG Asia joins international law firm Lovells.