CLP Power completes first HK corporate Kangaroo bond issuance

CLP Power Hong Kong CLP Power has completed a three-year A$500 million $337 million dual-tranche floating and fixed-rate bond offering through its wholly-owned subsidiary, CLP Power Hong Kong Financing.

This transaction marks the first Kangaroo bond issuance by a Hong Kong commercial corporate entity in the Australian market. Kangaroo bonds are Australian dollar-denominated bonds issued by foreign entities in Australia.

According to a July 15 CLP media release, the issuance is structured into two tranches a three-year A$350 million floating-rate note tranche and a three-year A$150 million fixed-rate note tranche. The Kangaroo bond is guaranteed by CLP Power. 

A CLP spokesperson...