By Rebecca Melvin
New York, April 11 – CK Hutchison International (19) Ltd. has issued $1.5 billion of notes in two tranches, including a $750 million issue of 2024 notes and a $750 million issue of 2029 notes (A2/A/A-), according to a company news release.
The 2024 notes have a coupon of 3¼%, and the 2029 notes have a coupon of 3 5/8%.
Lead managers and bookrunners were Citigroup Global Markets, Credit Agricole CIB, Goldman Sachs (Asia) Mizuho Securities Asia Ltd. and Morgan Stanley & Co.
The proceeds will be used to refinance dollar-denominated debt.
The company is involved in investment holding activities for CK Hutchison Holdings Ltd., a multinational conglomerate based in Hong Kong.
| Issuer: | CK Hutchison International (19) Ltd.
|
| Guarantor: | CK Hutchison Holdings Ltd.
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| Amount: | $1.5 billion
|
| Description: | Guaranteed notes
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| Bookrunners: | Citigroup Global Markets, Credit Agricole CIB, Goldman Sachs (Asia) Mizuho Securities Asia Ltd. and Morgan Stanley & Co.
|
| Issue date: | April 11
|
| Distribution: | Regulation S
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| Ratings: | Moody’s: A2
|
| S&P: A
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| Fitch: A-
|
|
|
| 2024 notes
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| Amount: | $750 million
|
| Maturity: | 2024
|
| Coupon: | 3¼%
|
|
|
| 2029 notes
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| Amount: | $750 million
|
| Maturity: | 2024
|
| Coupon: | 3 5/8%
|
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