Hutchison Whampoa has sold $3 billion worth of six- and 10-year bonds as part of a continuing liability management exercise that has also included two buyback tenders this year. All the money raised will be used to refinance existing debt, although the company did not specify what type of debt it intends to retire.
The Reg S/144A bond issue, which was priced in the early hours of the Hong Kong morning on Wednesday and upsized from an initial plan to raise $2 billion, is Hutchison's second bond issue this year and the largest from the Hong Kong conglomerate since 2003.
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