Table 5 shows that coupon rates in 1996 and 1997 were even lower than the 3-month HIBOR
The information was first received by the Hong Kong Monetary Authority, which has already commenced an investigation into the details of Hibor
The credit facility due in three and a half years will be drawn in either US or Hong Kong dollars and will come with a margin of 293 basis points above Hibor
, according to the source.
In particular, overnight CNH HIBOR
fixing has dropped back to the benign 1% handle after going as high as 66.8% on 12 January.
Hong Kong is reviewing and considering reforms to the way the Hong Kong Interbank offered rates (Hibor
) are determined after the scandal arising out of the Libor impacted on the financial sector.
The loan pays a margin of 200 basis points above Hibor
, showed a filing to the Hong Kong bourse.
The bank said that the move has been made under pressure of an increased Hong Kong interbank offered rate (Hibor