HENDERSON Land Development has raised its convertible bond cash call for a second time to US$460 million. Already the largest issue of its type in the history of the stock exchange, the company said yesterday an option to increase the issue amount by $40 million had been exercised by the arranger, Morgan Stanley International. Initially, the company said it was raising $400 million but it increased the amount to $420 million on Wednesday. Those under the subscription agreement include Wardley Corporate Finance and Credit Suisse First Boston. In a separate transaction, Swire Pacific has raised HK$500 million in a seven-year locally denominated bond, one of the first of its kind in Hong Kong. The issue, arranged by Goldman Sachs (Asia), was launched by Swire Pacific Finance and is guaranteed by Swire Pacific. A spokesman for Goldman Sachs said: ''This transaction is significant because it is the first term fixed-rate issue for a Hong Kong corporate in Hong Kong dollars in recent memory.'' Under the terms of the issue, the issue and re-offer prices were fixed at 100 per cent, Goldman said. There is a semi-annual coupon of 7.125 per cent with net proceeds of 99.55 per cent to the company. Payment date is November 22 with the maturity date on November 22, 2000. Goldman said an application would be made to list the bonds on the stock exchange. The investment bank said the co-leads for the transaction were ABN Amro Securities (Far East), CITIC Industrial Bank, Fuji International Finance (HK), Jardine Fleming, Lehman Brothers Securities Asia, Mitsubishi Finance (HK), Morgan Stanley and SchrodersAsia.