Wheelock refills warchest with $500m bond

The Hong Kong property company raises a dollar note amid improved market sentiment in the local real estate sector.

Wheelock sold a US$500 million three-year bond on Wednesday, riding on the back of positive market sentiment circulating Hong Kong’s real estate sector.

The subsidiary of Wheelock Company raised the unrated Reg S-registered note just shortly after Citi purchased space at its new tower block in Hong Kong’s Kowloon district, described by realtors as the largest single office transaction ever undertaken in the former British territory.

Citi paid HK$5.425 billion US$700 million in a sale-and-purchase agreement with Wheelock Properties for the East Tower at One Bay East in Kowloon East, which will house most of the US lender’s five thousand staff in Hong Kong....

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