HK bluechips issue bonds

Swire and Sun Hung Kai tap market for close to $1 billion

Swire Pacific, Sun Hung Kai Properties and DBS rush to issue as Greek rescue package buoys credit markets.
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The East Hotel is part of Swire’s Island East development </div>
<div style="text-align: left;"> The East Hotel is part of Swire’s Island East development </div>

It was another hectic day in Asia’s debt markets yesterday as the news of a second rescue package for Greece helped boost credit markets. While Greece is far from being out of the woods -- and bondholders have agreed to take a larger haircut on the country's debt than expected -- the package helped to shore up confidence among fixed-income investors in Asia.

Taking advantage of this positive sentiment, Swire Pacific, Sun Hung Kai Properties and DBS Bank all decided to push out dollar bonds last night. The two Hong Kong companies together raised close to $1 billion -- with Swire Pacific raising $500 million from a new 10-year bond...

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