The Airport Authority of Hong Kong (AAHK) made news with its historic bond offering of HK$18.5 billion (US$2.4 billion), the largest bond sale ever conducted in Hong Kong dollars.
The financial center's continued efforts to finance important infrastructure projects and negotiate a challenging economic climate are highlighted by this historic agreement, which was concluded late Tuesday, according to Bloomberg . Details of the four-tranche bond offering The four-tranche bond offering, which included maturities of three, five, ten, and thirty years, was priced at yields of 4.05%, 4.
10%, 4.25%, and 4.50%, respectively.
According to a person familiar with the matter, the order book surpassed HK$25.3 billion due to demand from Asian investors, which included banks, asset managers, insurers, other companies, and private banks. The individual also said that the bond's proceeds will be utilized for regular business operations as well as refinancing and funding major projects, such as the airport's three-runway system.
According to statistics collated by Bloomberg, the Hong Kong dollar sale is the largest of its type, exceeding the HK$18 billion convertible-bond offering by now-liquidated developer China Evergrande Group in 2018. Additionally, HKAA has priced 3.2 billion yuan ($436 million) in 10-year and 30-year dim sum notes.
On Wednesday morning, it began selling dollar notes with maturities of 3.5, 5.5, and 10 years.
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