Nice assets, shame about the cashflow

The structure of First Pacific''s debut high yield bond breaks new ground, but is risky for its controlling shareholder.

No one could accuse First Pacific of having a dull credit story. The Hong Kong based conglomerate has a negative net cashflow, and last year underwent a public spat between its executive chairman and its controlling shareholder.

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].

Share our publication on social media
Share our publication on social media