RRJ Capital and Pimco invest in PCPD bond offering
Updated
Updated · Bloomberg · May 11
RRJ Capital and Pimco invest in PCPD bond offering
1 articles · Updated · Bloomberg · May 11
The firms bought about 80% of Pacific Century Premium Developments' $500 million notes, which mature in May 2029, with RRJ leading the deal.
The sale provides funding for the Hong Kong developer controlled by billionaire Richard Li, according to people familiar with the matter.
The investment signals support from major asset managers for PCPD's debt issuance despite continued scrutiny of Hong Kong property developers' financing conditions.
Why are top firms betting big on a developer selling assets in a shaky Hong Kong property market?
With nearly $1 billion in new capital, what is billionaire Richard Li’s next major real estate play?