Hutch perpetual draws fanfare from investors

Demand for corporate hybrids continues to be robust, with Hutch drawing a $4.25 billion orderbook for its latest offering.

Hutch perpetual draws fanfare from investors

CK Hutchison Holdings returned to the international bond markets for the second time in two months on Tuesday, raising $1 billion from a perpetual non-call five-year bond that priced during New York hours.

The issuer rated A3A-A- by Moody’sSPFitch went out with initial price talk at the 4.375% area on Tuesday morning, before narrowing the 144AReg S deal to between 4% and 4.25%. The bond ended up pricing at...

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