Li & Fung perpetual defies crowded market

The Hong Kong-listed supply chain manager prints an upsized $650 million perpetual non-call five bond, after attracting more than $4.4 billion of orders.

Li & Fung perpetual defies crowded market

Supply chain manager Li Fung returned to the international bond markets for the first time in four years, issuing an upsized perpetual non-call five bond thanks to frenzied demand.

The Reg S deal stood its ground in the market on Thursday as the issuer was competing with at least five others in the regional G3 market for investor attention.  China Development Bank, Bank of East Asia, Golden Wheel Tiandi, Beijing Capital Development, Guangxi Communications...

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