Li & Fung taps perpetual as it eyes acquisitions

Li & Fung's $500 million perpetual suggests a large acquisition is ahead and reduces the likelihood of a near-term equity raising, analysts say.
<div style="text-align: left;"> Private banks provided the bulk of demand for Li & Fung's perpetual </div>
<div style="text-align: left;"> Private banks provided the bulk of demand for Li & Fung's perpetual </div>
November 05, 2012

Hong Kong-listed garment exporter Li & Fung raised $500 million through a perpetual bond late last week — which some believe signals that a big acquisition is imminent and reduces the likelihood of Li & Fung tapping the equity market in the near term.

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