Hutch executes $5.4b euro and dollar jumbo

Hong Kong blue chip Hutchison Whampoa raises $5.4 billion in one fell swoop. What will it use the funds for?

Hutchison Whampoa, controlled by Hong Kong billionaire Li Ka-shing, tapped the senior bond market early Wednesday after a hiatus of nearly two years, raising a total of $5.4 billion in one fell swoop.

Hutchison, a sprawling blue-chip conglomerate that operates ports, telecommunications and infrastructure, achieved what few Asian borrowers can do. The company raised $3.5 billion through a dual-tranche US dollar bond and, concurrently, tapped the euro market with a 1.5 billion bond.

The deal was executed within a 24-hour period. The US dollar bond was announced on Tuesday morning, with bookbuilding starting in Asia, and after assessing the markets in Europe the leads added the...

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