Hong Kong Broadband weathers HY weakness
Hong Kong Broadband Network made its debut in the dollar bond market at the end of last week, launching an unrated $450m Reg S deal that held up well in secondary trading despite a recent softening in the high yield market.
The companys bookrunners priced a 5.25% five year non-call two deal on January 11, taking advantage of strong name recognition among investors in Hong Kong, where the company is one of the biggest broadband providers.
The borrower received strong feedback on a three day roadshow in Hong Kong, Singapore
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