Reuters
Hong Kong conglomerate Swire Pacific (0019, 0087) is looking to raise US$300 million (HK$2.34 billion) to US$500 million through a five-year dollar bond, according to two sources with direct knowledge of the matter.
The proposed bond has initial price guidance for potential investors of Treasuries plus 120 basis points, according to a term sheet reviewed by Reuters.
Swire Pacific intends to use the money raised for lending within the group and general corporate purposes, the term sheet said.
”We are in the process of exploring the possibility of issuing U. Dollar bond,” a company spokesperson told Reuters, adding that an announcement will be made when appropriate.
Swire Pacific owns 45 percent of Cathay Pacific Airways (0293), Hong Kong’s flagship carrier, according to LSEG data, and a range of other property, healthcare, and retail assets across the city.
