Hong Kong Airport Authority flies into 144A market

By Morgan Davis
29 Jan 2021

Hong Kong's Airport Authority used a 144A format to expand its investor base and find a new pocket of liquidity this week. It got a strong reception from the US for its $1.5bn bond.

The AA+ rated borrower sold a $1.5bn deal in December, split between a perpetual non-call 5.5 year note and a perpetual non-call 7.5 year bond. That Reg S trade proved popular despite the Covid-19 linked woes plaguing the travel industry. Investors had been keen to buy the ...

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