Buy-backs continue as City Tel nears deadline, but Hutch turns seller
Hong Kong's City Telecom is set to close the first stage of a tender offer for $89m of high yield bonds on Wednesday, continuing the trend of Asian corporate issuers looking to redeem their debt at a discount. But the tide may be turning after Hutchison Whampoa, which had also been buying back its own debt, sold new bonds on Monday.
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