Luxembourg Exchange throws spanner at CKI perpetual

CKI was all set to print a $300 million perpetual on Friday night, but the deal was delayed after the Luxembourg Stock Exchange asked for additional disclosures.

Luxembourg Exchange throws spanner at CKI perpetual

Cheung Kong Infrastructure’s CKI corporate hybrid hit an unexpected stumbling block with the Luxembourg Stock Exchange late last week. The deal was set to print on Friday night but, according to a source, was held up at the eleventh hour as the exchange had questions over whether the hybrid should be listed as equity or debt, and also wanted additional disclosures.

On Friday, the leads Goldman Sachs and J.P. Morgan had marketed a $300 million...

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