Barclays Bank is one of the world’s oldest banks. In June 2012, it was fined 290 million pounds (US$450 million) for attempting to manipulate the daily settings of London Interbank Offered Rate (Libor) and the Euro Interbank Offered Rate (Euribor). The bank's chief executive, Bob Diamond, decided to give up his bonus as a result of the fine, and subsequently resigned after a wave of criticism against the bank.
Syndication is launched
SYNDICATION of a four-year $1 billion loan was launched yesterday for Hang Lung Treasury, arranged by Barclays Bank, Societe Generale Asia and Westdeutsche Landesbank Girozentrale.
Interest margin was 82.5 basis points over Hong Kong Inter-bank Offered Rate. The loan was guaranteed by Hang Lung Development.