Ubs, deutsche bank subscribe to sale UBS and Deutsche Bank have subscribed to a 10 billion yuan (HK$9.29 billion) share sale by China Yangtze Power, whose listing assets include the Three Gorges power plant, the Chinese company says. The two banks are buying shares in their capacity of qualified foreign institutional investors. Hutchison sets margin for $5b syndicated loan Hutchison Whampoa has set the margin at 39 basis points above Hibor (Hong Kong interbank offered rate) for its proposed HK$5 billion syndicated loan facility for the refinancing of its 88 per cent owned Hongkong International Terminals. The loan, which has a five-year tenure, would be signed in the next few weeks, arranging banking sources said yesterday. Bank of communications profit increases 25pc State-owned Bank of Communications said profits rose 25.9 per cent to 6.72 billion yuan (HK$6.24 billion) in the first nine months, as non-performing loans fell by 5.62 percentage points during the same period. Overall yuan deposits reached 696.92 billion yuan, up 22 per cent over the same period last year, while total yuan lending grew 21.6 per cent to 470 billion yuan. Rating agencies support mortgage-backed paper The two major international credit rating agencies have both assigned strong ratings to the HK$3 billion mortgage-backed securities issued last week by Hong Kong Mortgage Corp. Moody's Investors Service assigned an Aa3 rating for the paper, while Standard & Poor's Rating Services gave it a preliminary AA-minus. Circle k firm rises Convenience Retail Asia reported a net profit HK$18.2 million for the third quarter, up 6 per cent year on year. The company, which operates Circle K convenience stores in Hong Kong and China, recorded a 10 per cent year-on-year increase in its turnover to $404.9 million.