Tencent, Swire Raise $5.2 Billion in Hong Kong Bond Deals as Debt Demand Strengthens
Updated
Updated · South China Morning Post · Jun 10
Tencent, Swire Raise $5.2 Billion in Hong Kong Bond Deals as Debt Demand Strengthens
3 articles · Updated · South China Morning Post · Jun 10
Summary
Tencent and Swire raised a combined US$5.2 billion in Hong Kong multi-currency bond sales, underscoring stronger investor demand for the city’s debt market.
Tencent accounted for nearly US$4.7 billion of the total with US$2.45 billion in dollar notes and 15 billion yuan in offshore yuan bonds, its biggest fundraising in six years.
Tencent said net proceeds of about US$2.43 billion and 14.94 billion yuan will go to general corporate purposes, including refinancing, after it unveiled a US$30 billion global medium-term note programme two days earlier.
The offerings spanned US dollars, offshore yuan and Hong Kong dollars, reinforcing Hong Kong’s role as a broad fundraising hub for issuers from Chinese tech groups to legacy conglomerates.