Hutch perpetual draws fanfare from investors

Demand for corporate hybrids continues to be robust, with Hutch drawing a $4.25 billion orderbook for its latest offering.

CK Hutchison Holdings returned to the international bond markets for the second time in two months on Tuesday, raising $1 billion from a perpetual non-call five-year bond that priced during New York hours.

The issuer rated A3A-A- by Moody’sSPFitch went out with initial price talk at the 4.375% area on Tuesday morning, before narrowing the 144AReg S deal to between 4% and 4.25%. The bond ended up pricing at par at the tight-end of the yield range, according to a term sheet seen by FinanceAsia.

Bankers used CLP’s outstanding 4.25% $750 million perpetual bond as a major...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222