Hong Kong Airport Authority issues record HK$19 billion in bonds
Updated
Updated · South China Morning Post · Apr 29
Hong Kong Airport Authority issues record HK$19 billion in bonds
9 articles · Updated · South China Morning Post · Apr 29
The three-tranche Hong Kong dollar sale drew peak orders above HK$55 billion, 2.9 times subscribed, with more than 90% of investors from Hong Kong, bookrunner HSBC said.
The three-, five- and 10-year notes were priced at 2.90%, 2.97% and 3.38%, and were expected to be rated AA+ by S&P Global Ratings.
Airport Authority said proceeds will refinance debt, fund capital spending and support general corporate purposes, while bankers said the deal underscored Hong Kong's role as a funding, fixed-income and currency hub.
Is Hong Kong's reliance on local investors for its record bond sale a sign of strength or a hidden risk?
With record funding, how will Hong Kong's airport challenge its ambitious rivals in the Greater Bay Area and beyond?