Nan Fung prompts perp pile up

Hong Kong property developer's deal sees sector re-price. Is this the end of the road for fixed-for-life perpetuals?
May 22, 2017

A $500 million fixed-for-life perpetual by Nan Fung International Holdings dropped sharply after it began trading on Tuesday in a sign investors may be starting to question the wisdom of structures, which leave them heavily exposed to duration risk. 

¬ Haymarket Media Limited. All rights reserved.

Sign in to read on!

Registered users get 2 free articles in 30 days.

Subscribers have full unlimited access to FinanceAsia.

Not signed up? New users get 2 free articles per month, plus a 7-day unlimited free trial.

Questions?
See here for more information on licences and prices, or contact [email protected].

Related Articles

JP Morgan names new Hong Kong CEO

JP Morgan has appointed Kam Shing Kwang to lead Hong Kong, effective October 1, as Harshika Patel completes her term; Patel will continue as Apac CEO of JP Morgan Private Bank.
September 10, 2024

JP Morgan rings Apac ECM leadership changes

FA understands the bank is making a number of senior leadership changes and hires across ECM, investment banking and technology, in Hong Kong, Singapore, Sydney and San Francisco; including Apac Equity Syndicate leader and head of SEA ECM.
March 13, 2025