Hong Kong to price HK$20 billion global bond in mid-July

By Reshmi Basu

New York, May 20 - Hong Kong plans to issue its maiden HK$20 billion global bond in mid-July, according to a market source.

The bond offering (long-term foreign currency ratings A1/A+) will include both U.S. and Hong Kong dollar-denominated tranches.

Proceeds will be used to fund public work projects.

Citigroup, Goldman Sachs, HSBC Bank, Barclays Capital, Deutsche Bank, JP Morgan, Merrill Lynch and Standard Chartered are among the 11 banks on the shortlist to arrange the sale.

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