Borrower of the week: HKAA

Raymond Lai, CFO of the Hong Kong Airport Authority, talks about the company''s borrowing strategy

You completed your first international bond offering last week. Why do you need to raise funds now

It's for our general corporate purposes. We also have some refinancing requirements coming up and an acquisition we made recently carries fixed US dollar income, so this financing combines certain objectives for us, matching income sources and we also wanted to generally lengthen the debt maturity and tap a new source of funding in international investors. We've done the local retail and institutional market already, and also the bank market in Hong Kong, so this represents new source of funding for us.

How do you expect the bond to perform in the secondary market...

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