Societe Generale in issue
SOCIETE Generale Hongkong yesterday announced the issue of $100 million two-year reverse floating rate certificates of deposit (CD).
Interest on this CD issue is payable quarterly at a rate of 14.75 per cent minus two times the three-month Hongkong Interbank Offered Rate. Denomination of each CD is $500,000.
Societe Generale Asia is the arranger and will maintain an active secondary market by quoting two-way prices.
Payment date and maturity date are March 12, 1993 and March 14, 1995 respectively.