PSA announces price guidance for aquisition financing

Sole lead Morgan Stanley revises initial price guidance ahead of planned bond deal for Singapore port operator's purchase of stake in Hutchison Ports.

Sole bookrunner Morgan Stanley has released initial guidance for the bond portion of the $4.4 billion acquisition financing for PSA InternationalÆs purchase of a 20% stake in Hutchison Port Holdings.

The bond offering, spilt into two tranches released initial guidance on Wednesday June 21. The five year tranche will look to price in the 10bp to 15bp over mid-swaps area. While a second 10-year tranche was marketed at the 20bp to 25bp over mid-swaps area.

Interestingly enough, once initial...

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