HK & China Gas Issues US$1bn 10-year Bond

August 2008 | M&A News Alert

Leading Hong Kong public utility The Hong Kong and China Gas Company (HKCG) has priced a US$1bn 10-year bond, becoming the first Asian private corporate issuer to offer an investment grade bond of this scale since 2003. The success of the bond will be a relief to investors in the region, which has seen a sluggish market for public offerings and bond issues. The last company to undertake a debt issue of any size in Asia was in mid-June when Korean energy refiner SK Energy raised US$450mn from a five-year deal.

If you would like to subscribe to Corporate Financing Week and gain instant access to this article, please click here to subscribe.

If you would like to take a trial to Corporate Financing Week please click on the trial link below.