Sun Hung Kai & Co completes exchange offering

Investment and consumer finance company extends maturity profile through exchange and new bond offering.

Sun Hung Kai & Co completes exchange offering

Investment and finance company Sun Hung Kai Co extended its maturity profile and locked-in a lower cost of funding with the completion of an exchange offering and new bond on Monday. 

The unrated group issued a new $361.639 million five-year bond after successfully persuading investors to tender $121 million of their existing $350 million 6.375% September 2017 bonds at an exchange price of 105.375%. 

The Reg S transaction is a...

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