Hutchison Whampoa, the conglomerate headed by Kong Kong tycoon Li Ka-shing, priced a $1.5 billion 10-year global bond early Tuesday morning local time. It was only the second global bond issue by an Asian corporate so far this year, after Korean steel maker Posco raised $700 million two weeks ago.
The bonds pay a coupon of 7.625% and were reoffered at 99.676 for a yield of 7.672%. They mature on April 9, 2019.
The bonds are issued by Hutchison Whampoa International and guaranteed by Hutchison Whampoa, which is rated A3 with a negative outlook by Moody's Investors Service, and A- stable by both Standard Poor's and Fitch Ratings. The lead managers, Deutsche Bank, HSBC and...
¬ Haymarket Media Limited. All rights reserved.
