HKCB Bank Holding Co is to raise US$50 million in a five-year floating-rate note issue later this month. It will be arranged by Standard Chartered Markets. Bankers said yesterday the group's HKCB Financial Services would be the actual borrower in the issue, which would be listed in the territory. Pricing would be 90 basis points (0.9 percentage point over the six-month London interbank offered rate, they said. The deal would feature put and call options at three years. Put options allow investors to choose to force the issuer to repay the debt at a given time, while calls on the other hand allow the issuer to choose to repay the debt at a given time. Fees were expected to be about 75 basis points (0.75 percentage point) for top-level lenders, offering an all-in yield of about 115 basis points (1.15 percentage points), assuming the securities were redeemed at three years.