Deutsche launches HK$ bond, hopes to further market presence

Cheung Kong issues a HK$300 million bond deal via Deutsche, which says it wants to deepen its presence in the Hong Kong market.

Deutsche Bank today launched a Hong Kong dollar bond for Cheung Kong, one of Hong Kong's most influential conglomerates run by Li Ka Shing. The launch of the HK$300 million $38.5 million deal also co-incided with an announcement that the German bank is planning to allocate more resources to the domestic Hong Kong dollar market.

The Cheung Kong deal offers three-year floating rate notes, with a re-offer price of par and coupon of 28bp over three...

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