Hong Kong Airport Authority Sells Record $2.4 Billion of Bonds
- Bond sale is the biggest-ever Hong Kong dollar offering
- The government body also marketed dim sum, dollar bonds
While Hong Kong airport’s three-runway system came into operation at the end of November, there will be little additional flight capacity available for at least another year.
Photographer: Lam Yik/BloombergThe Airport Authority of Hong Kong sold HK$18.5 billion ($2.4 billion) of bonds in the largest-ever issuance in the financial hub’s local currency, amid a sluggish recovery in the aviation sector and delays to the airport’s expansion plan.
The Hong Kong government’s statutory body priced 3-year, 5-year, 10-year and 30-year notes yielding 4.05%, 4.1%, 4.25% and 4.5%, respectively, late Tuesday. The notes received HK$25.3 billion of bids, all from Asia, according to a person familiar with the matter.