Shun Tak draws a crowd for rare dollar bond from

07 Mar 2013

Shun Tak Holdings, a Hong Kong-listed conglomerate that largely operates in Macau, gave international bond investors a welcome chance to diversify last week, raising $400m from the sale of a seven year bond.

Crédit Agricole and HSBC managed the deal, and generated $5.25bn of orders from 150 investors. That allowed them to push pricing down by 30bp from initial whispers to the final number, and Shun Tak ended up getting away with a yield of 5.7%.

It proved tough for bankers and ...

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