Sun Hung Kai Properties joins perpetual rush

The blue-chip property developer returns to the dollar bond market for the first time in three years, selling its first perpetual bond at a new record low coupon.

Sun Hung Kai Properties, Hong Kong’s largest developer by market capitalisation, returned to the international bond market for the first time in three years, pricing a $500 million fixed-for-life perpetual bond at the lowest-ever coupon paid by any Asian issuer in the structure.

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