Hutchison Whampoa, controlled by Hong Kong tycoon Li Ka-shing, hit the market running early this week with a $1.5 billion dual-tranche bond. The deal was announced on Monday, beating a heavy supply pipeline of Asian dollar bonds.
No roadshows were held and the deal was slickly executed as is usually the case with a seasoned borrower such as Hutch. The Hong Kong-based conglomerate mandated banks last week and, by the weekend, was ready to go, ahead of the US presidential elections.
“It was a standard Hutch operation,” said one banker. “They were prepared. They decided to go ahead of the US elections and got ahead of heavy...
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