One of SHK's prime properties, International Commerce Centre in West Kowloon
Sun Hung Kai Properties, a Hong Kong-listed developer, last night priced a $500 million five-year bond at Treasuries plus 245bp, at the tight end of the Treasuries plus 245bp to 250bp guidance.
Standard Chartered acted as sole bookrunner, which is a rare role in Asia’s bond market these days. The notes pay a 3.5% coupon and were reoffered at 99.901 to yield 3.522%.
Sun Hung Kai announced the deal at around 11am...