Hutchison returns with HK$3.8 billion refinancing

After two years away Hutchison asks Hong Kong bankers to tighten their belts another notch.

Arrangers Agricultural Bank of China, Bayerische Landesbank, BNP Paribas, China Construction Bank, Standard Chartered and Sumitomo Mitsui Banking Corp have joined forces to launch the HK$3.8 billion $487 million five year refinancing for Hutchison Whampoa. The borrower will be a special purpose vehicle and the deal will carry a guarantee from the parent.

Invitations have been sent out to potential banks, which will earn an all-in of 51bps as underwriters. Once the senior syndication phase has been completed a decision will be made regarding general syndication.

The borrowers last deal was a $750 million five year facility raised to part finance the Eur1.3 billion acquisition of Netherlands-based retailer Kruidvat Group...

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