CKI flies under radar with $300 million privately placed perpetual

Cheung Kong Infrastructure sells a $300 million hybrid, with the asset management arms of Goldman and J.P. Morgan assumed to be big buyers.

CKI flies under radar with $300 million privately placed perpetual

Cheung Kong Infrastructure CKI quietly priced a $300 million perpetual bond on Thursday evening, after a delay of close to a week as the company had earlier faced technical issues surrounding its hybrid listing on the Luxembourg Stock Exchange.

The bonds were priced at par and offered a 7% yield the same terms it had marketed the deal at the previous Friday. However, CKI chose to issue the shares through a private placement this time,...

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