Asian investors were allocated 96 per cent of the bond, which was rated AA+ by S&P, while the rest went to European investors. They included banks, asset managers, private banks and securities firms.
“The successful issuance once again proves the investors’ confidence in the Hong Kong International Airport as a regional and international aviation hub,” said Jack So, AAHK’s chairman. “The notes also diversified AAHK’s funding sources in the capital market with the most competitive financing costs.”
Debt denominated in yuan has become comparatively cheaper since borrowing costs have been elevated in the US dollar market after a series of interest-rate increases by the Federal Reserve since March 2022.
Hong Kong is well positioned to support offshore yuan needs, Secretary for Financial Services and the Treasury Christopher Hui Ching-yu told a conference in February. Last year, dim sum bonds issued in the city increased by 65…
