The A3A-rated credit recently updated its US shelf from $250 million to $1 billion and is currently in the middle of seeking proposals from investment banks for a new dollar offering. Market participants believe that mandates for what is likely to be a $500 million 10 year transaction should be awarded fairly quickly and on the basis of historical relationship with the group rather than price. Long considered Hong Kong's proxy sovereign issuer, MTR Corp also typically vies with China for the tightest spreadĀ level among non-Japan Asia's sovereign credit spectrum. Most bankers consequently agree that getting a prospective deal right does not so much depend onĀ resolving particular credit issues,...