Citic Ka Wah Bank eyes benchmark upper tier two bond.

Reports on the plan of Citic Ka Wah Bank to be the first pure Hong Kong bank to launch a perpetual upper tier two subordinated bond in March 2002. Cost of the deal; Banks that will serve as lead managers on the transaction; Cost of Citic's acquisition of Hong Kong Chinese Bank in January 2002; Asian banks which launched lower tier two deals in 2001.