Sun Hung Kai Properties joins perpetual rush

The blue-chip property developer returns to the dollar bond market for the first time in three years, selling its first perpetual bond at a new record low coupon.

Sun Hung Kai Properties joins perpetual rush

Sun Hung Kai Properties, Hong Kong’s largest developer by market capitalisation, returned to the international bond market for the first time in three years, pricing a $500 million fixed-for-life perpetual bond at the lowest-ever coupon paid by any Asian issuer in the structure.

The Hong Kong-listed developer rated A1 by Moody’s tapped the Reg-S market on Tuesday morning, less than a week after a major rival, Cheung Kong Property, sold the largest-ever fixed-for-life perpetual,...

To continue reading, please login or register for free

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 ...