Hong Kong Airport's $1.5bn deal soars

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By Morgan Davis
02 Dec 2020

Hong Kong's Airport Authority proved that Covid-19 related travel worries are of little concern for its dollar bond investors. The issuer attracted a final order book of $14.5bn for its $1.5bn dual-tranche deal on Tuesday.

The government-owned borrower, which is rated AA+ by S&P Global Ratings, sold the "Hong Kong trade of the year," according to a syndicate banker on the deal.

The transaction, which was split between two notes, was the issuer's first perpetual bond sale. It also marked the ...

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