By Christine Van Dusen
Atlanta, Feb. 22 – Hong Kong priced a $1 billion issue of Islamic bonds (AAA/AA+) due in 2027 to yield 3.132%, or Treasuries plus 68 basis points, according to an announcement from the sovereign.
HSBC and Standard Chartered Bank were joint global coordinators and along with CIMB and National Bank of Abu Dhabi were joint lead managers and joint bookrunners for the Regulation S deal.
The deal drew a final order of $1.72 billion from more than 88 orders, with 57% going to Asia, 25% to the Middle East and 18% to Europe. About 53% went to banks; 36% to fund managers, private banks and insurance companies; and 11% to sovereign wealth funds, central banks and supranationals.
| Issuer: | Hong Kong
|
| Amount: | $1 billion
|
| Maturity: | 2027
|
| Description: | Islamic bonds
|
| Bookrunners: | HSBC and Standard Chartered Bank (joint global coordinators); CIMB, National Bank of Abu Dhabi
|
| Yield: | 3.132%
|
| Spread: | Treasuries plus 68 bps
|
| Trade date: | Feb. 21
|
| Settlement date: | Feb. 28
|
| Ratings: | S&P: AAA
|
| Fitch: AA+
|
| Distribution: | Regulation S
|
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