Order books bulge for Hutch’s €5.2bn European outing

CK Hutchison, the Hong Kong conglomerate, took more than €10bn of orders on Tuesday for a six-tranche bond in euros and sterling as it opted not to squeeze the pricing as much as other recent deals.

  • By Mike Turner
  • 08 Oct 2019

The Baa1/A-/BBB+ rated issuer raised €4.25bn and £800m and did not push hard on pricing, according to a banker at one of the leads. 

"It's cheap," said the lead. "Like everything in life, at the right price people will buy."

In euros, Hutchison announced a four year tranche at initial ...

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1 Bank of China (BOC) 27.09
2 Industrial and Commercial Bank of China (ICBC) 12.86
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4 China Merchants Securities Co 9.09
5 Agricultural Bank of China (ABC) 5.51

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1 HSBC 31.72 279 8.28%
2 Citi 25.59 178 6.68%
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4 JPMorgan 17.59 129 4.59%
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