Hutch leans on old lenders for another HK$37.5bn

Hong Kong conglomerate Hutchison Whampoa is back in the market for another multibillion dollar loan, this time for its electricity arm, just weeks after it closed a chunky deal for another one of its subsidiaries. But despite the borrower leaning on the same banks to provide the new funding, the deal is likely to get across the line without a hitch as banks cannot afford to turn down one of the biggest companies in Asia, writes Rashmi Kumar.

  • By Rashmi Kumar
  • 10 Oct 2013
Controlled by Asia’s richest man Li Ka-shing, Power Assets Holdings said on September 27 that it was spinning off its electricity operations run by Hongkong Electric Co. The IPO will be completed via a trust structure, with investors buying stapled share units in two listed vehicles — Spinco ...

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