Hutch hits market for sixt

The conglomerate prices through its funding targets with Asia''s largest ever re-opening.

Hutchison Whampoa showed a return to form yesterday (Tuesday) with a successful re-opening of its February 2013 bond The $1 billion deal not only represents Asia's largest ever re-opening, but also now becomes the biggest single tranche issue traded in the Asian market At a total issue size of $2 5 billion, it just pips an outstanding $2 billion bond by Petronas

On a global basis it is extremely rare to see a corporate borrower attempt a tap of such a large size and the A3/A rated group has won many plaudits for its timing and strategy As one Asian DCM head puts it, "What better way to underline your market access than to do...

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