Hong Kong Airlines, controlled by China's acquisitive HNA Group, returned to the international bond markets on Friday, raising $250 million through the sale of a senior perpetual bond.
The airline, which is privately held and unrated, launched its debt sale three days after Richard Li’s insurer FWD Group sold a $250 million subordinated perpetual bond that captured more than $6.75 billion of demand.
However, interest in HK Airlines was far cooler, with the peak order book reaching $500 million reflecting the challenging outlook for the aviation industry.
“The credit profile and industry risk of the two deals are very different, with the...
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