The three-year transaction not only ranks as the standout deal in its category, but across the wider capital markets as well. Within the space of its accelerated, 10-hour launch period on September 11, the issue managed to completely re-define the Asian equity-linked market and re-shape the kind of pricing levels available to the region's top borrowers.
For most of its history, the sector has suffered something of a reputation problem in the eyes of global investors. Too often in the past, boombust cycles have been engendered by a preponderance of second tier issues jamming the market with mis-priced deals that fail to withstand the next market downturn.
Hutchison, by contrast, may...
