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Hutchison Whampoa UK marketing £500 million 11-, 20-year notes
By Paul A. Harris
St. Louis, Nov. 16 - Hutchison Whampoa UK plc, a subsidiary of Hong Kong-based conglomerate Hutchison Whampoa Ltd., is in the market with a £500 million offering of unsecured notes (A3/A-/A-) in two tranches, according to a market source.
The deal is comprised of notes set to mature in November 2017, with price guidance of Gilts plus 105 basis points, and notes maturing in November 2026, with price guidance of Gilts plus 127 basis points.
The deal, which is being led by ABN Amro and The Royal Bank of Scotland, is expected to launch and price on Friday.
Proceeds will be used to refinance the existing debt of Hutchison Whampoa's subsidiaries.
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