Hutch blasts back into bond market

New euro benchmark attracts large order book.

Hong Kong conglomerate Hutchison Whampoa returned to the euro-denominated bond market for the first time in nearly two years yesterday June 22 with a 1 billion deal via ABN AMRO, Deutsche Bank and HSBC.

The 10-year transaction was a runaway success, attracting an order book that closed five-and-a-half times covered after a rapid four-hour bookbuild. In the process, the A3A-A- rated group not only managed to beat the PRC to bring the...

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