Finance / Hong Kong
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HK & China Gas Issues US$1bn 10-year Bond
August 2008 | M&A News AlertSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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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.