New Issue: Hong Kong prices $1 billion 1.894% sukuk due 2020 at 35 bps spread

By Christine Van Dusen

Atlanta, May 27 – Hong Kong sold $1 billion 1.894% Islamic bonds due in 2020 (expected ratings: Aa1/AAA/) at a spread of Treasuries plus 35 basis points, according to an announcement from the sovereign.

The notes priced at the tight end of talk, set at 35 bps to 40 bps.

HSBC and Standard Chartered Bank were the joint global coordinators for the Regulation S deal. CIMB and National Bank of Abu Dhabi were the other joint bookrunners.

Issuer:	Hong Kong Sukuk 2015 Ltd.
Amount:	$1 billion
Maturity:	2020
Description:	Islamic bonds
Bookrunners:	HSBC, Standard Chartered Bank (joint global coordinators); CIMB, National Bank of Abu Dhabi (other joint bookrunners)
Coupon:	1.894%
Spread:	Treasuries plus 35 bps
Trade date:	May 27
Expected ratings:	Moody’s: Aa1
	Standard & Poor’s: AAA
Distribution:	Regulation S
Price talk:	Treasuries plus 35 bps to 40 bps

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