Deutsche launches HK$ bond, hopes to further market presence

Cheung Kong issues a HK$300 million bond deal via Deutsche, which says it wants to deepen its presence in the Hong Kong market.

Deutsche Bank today launched a Hong Kong dollar bond for Cheung Kong, one of Hong Kong's most influential conglomerates run by Li Ka Shing. The launch of the HK$300 million $38.5 million deal also co-incided with an announcement that the German bank is planning to allocate more resources to the domestic Hong Kong dollar market.

The Cheung Kong deal offers three-year floating rate notes, with a re-offer price of par and coupon of 28bp over three month Hibor. The deal was Cheung Kongs first offering this year in the Hong Kong market.

We are honored to have had the opportunity to assist Cheung Kong in this funding exercise, says David...

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