Hutch gets its euro benchmark

The conglomerate prices slightly wide of its dollar paper with a 10-year deal.

HSBC completed an Eu1 billion transaction for Hutchison Whampoa at London's close yesterday Wednesday, pricing the deal 7bp back of the group's outstanding 10-year dollar deal.

The new issue came at 99.579% on a coupon of 5.875% to yield 5.932%. This represented a yield of 208bp over Bunds, 197bp over mid-swaps, or 225bp on an equivalent Treasuries basis. At the time of pricing, the A3A- rated group's February 2013 bond was being quoted at 218bp over...

To continue reading, please login or register for free

Click for more on: hutch | gets | euro | benchmark

Print Edition

FinanceAsia Print Edition

CONFERENCES

  • 2nd Compliance Summit Southeast Asia

    17 August 2017  |  Singapore
    The 2017 Compliance Summit Southeast Asia will take an in-depth look at the key compliance considerations today with a focus on regulation and new ...