CK Hutch’s 4x subscribed hybrid takes centre stage
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Asia

CK Hutch’s 4x subscribed hybrid takes centre stage

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CK Hutchison sold a hybrid bond featuring a dual-step structure this week, designed to qualify for partial equity treatment from ratings agencies. While demand was strong for the $1bn deal, priced off the back of a $4.25bn book, some handholding was needed to make investors comfortable. Addison Gong reports.

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