Watsons shops for HK$15bn loan as pricing draws complaints

AS Watson, the retail and manufacturing arm of Hong Kong conglomerate Hutchison Whampoa, is speaking with banks for a HK$15bn loan ($1.93bn) and is counting on its relationship banks to take the deal forward. But bankers are already speculating that the transaction will not be an easy one, owing to the slim margin of 85bp over dollar Libor.