Hongkong Electric pulls dollar bond amid Asian stock rout

Hongkong Electric becomes the second Asian issuer to pull a US dollar bond this week as investors refuse to take on more risk.

Li Ka-shing’s Hongkong Electric Finance was forced to pull its 10-year US dollar benchmark bond on Tuesday night as investors shied away from the deal amid simmering geopolitical tensions on the Korean peninsula and a spike in risk aversion.

The bond was marketed to investors with a guidance at the 10-year Treasuries plus 140bp mark on Tuesday morning. The Reg S-registered bonds were to be issued off the company’s medium-term note programme and were expected to price as...

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