hutchison-sells-3-billion-of-dualtranche-bonds

Hutchison sells $3 billion of dual-tranche bonds

The six- and 10-year bonds are issued to refinance existing debt and mark Hutchison's largest bond deal since 2003.

Hutchison Whampoa has sold $3 billion worth of six- and 10-year bonds as part of a continuing liability management exercise that has also included two buyback tenders this year. All the money raised will be used to refinance existing debt, although the company did not specify what type of debt it intends to retire.

The Reg S144A bond issue, which was priced in the early hours of the Hong Kong morning on Wednesday and upsized from an initial plan to raise $2 billion, is Hutchison's second bond issue this year and the largest from the Hong Kong conglomerate since 2003.

However, it isn't the largest deal in Asia year-to-date as that record...

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