Hong Kong’s MTR makes $3bn public bond deal

Hong Kong’s MTR Corporation has priced a $3 billion three-tranche public bond, according to a April 1 announcement on the Hong Kong Stock Exchange HKEX. The bond is the largest US dollar bond issuance by a Hong Kong issuer in Reg S format.

The transaction for the city’s underground and overground transport network consisted of five-year 4.375% $500 million senior bonds 10-year 4.875% $1 billion senior bonds and 30-year 5.250% $1.5 billion senior bonds. Over 90% of the investors came from Asia, through a mix of fund and asset managers, banks, insurers, official institutions, and corporates the rest were from EMEA Americas. All the orderbooks for the bonds were...