Investors snap up Hon Hai bond as trade deal nears

A possible end to the Sino-US trade war has prompted robust demand for the year's first US dollar bond from Asia's Technology, Media and Telecom sector.
Terry Gou, founding chairman of Hon Hai Precision
Terry Gou, founding chairman of Hon Hai Precision

Investors fell over themselves to subscribe to Hon Hai Precision's Reg S deal, the first US dollar bond to be issued by a Technology, Media and Telecom TMT company in Asia so far this year.

Hon Hai, which is listed on the Taiwan Stock Exchange, is the world’s largest electronic manufacturing services EMS provider and a major contract manufacturer for leading brands like Apple, Nokia and Huawei.

The order book reached $5.7 billion for the Taiwanese firm’s US dollar bonds. In the end it printed $1 billion, made up of $700 million 5-year paper and $300 million 10-year bonds. “There was very strong demand,” ...

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