Hong Kong Telecom, controlled by billionaire Richard Li Tzar-kai, returned to the international bond markets on Thursday, with a $750 million ten-year deal.
The Reg S transaction comes just over a year after the Hong Kong-listed group sold a $500 million 10-year note in March 2015.
Then it garnered $4 billion in demand from more than 270 accounts. This time around, the Baa2BBB rated company attracted a peak order book of $3 billion and final order book of $2.65 billion.
Markets remain in overall risk-off mode although sales desks reported 2bp to 4bp of tightening on Thursday following the Federal Reserve’s dovish statement....