Towngas extends Hong Kong curve with 40 year bond sale

03 Dec 2009

Hong Kong and China Gas (Towngas) sold the longest-ever maturity deal in its domestic bond market last week, pushing its curve out to 40 years.

Towngas raised HK$500m last week, half from the 40 year deal, which paid a coupon of 4.95%, and the other half from a 30 year deal, which paid 4.65%. Both tranches were priced at par.

The borrower broke a record it set itself in July, when it sold a ...

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