Hongkong Electric sparks into life with 10 year deal after pulling plug in November
Hongkong Electric completed a $500m 10 year bond on Monday at the second attempt. The Reg S issue had been abandoned in poor market conditions late last month.
This time the deal fared much better, attracting $1.8bn of orders from 150 accounts. Joint bookrunners HSBC, Royal Bank of Scotland and Standard Chartered priced the deal at 137.5bp over Treasuries the tight end of 137.5-142.5 guidance, and below the 140bp guidance they had offered in November
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