IFC Development issues $500 million debut bond

Hong Kong landmark IFC taps investors with six-year bond and swaps to a floater.

IFC Development issues $500 million debut bond

IFC Development, one of the biggest commercial complexes in Hong Kong, closed a $500 million debut bond as it turned to debt investors to refinance a loan. The company is one among many that have opted to tap the bond market for the first time this year, taking advantage of cheap financing for longer tenors and the opportunity to diversify funding sources.

The company opted to issue a six-year bond an odd tenor in bond...

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