CLP Power completes first HK corporate Kangaroo bond issuance
The three-year A$500m bond was swapped into Hong Kong dollars on the date of completion with ANZ as the sole coordinator, with investors from Asia, the UK and Australia.
JimMin
July 16, 2024
CLP Power Hong Kong CLP Power has completed a three-year A$500 million $337 million dual-tranche floating and fixed-rate bond offering through its wholly-owned subsidiary, CLP Power Hong Kong Financing.
This transaction marks the first Kangaroo bond issuance by a Hong Kong commercial corporate entity in the Australian market. Kangaroo bonds are Australian dollar-denominated bonds issued by foreign entities in Australia.
According to a July 15 CLP media release, the issuance is structured into two tranches a three-year A$350 million floating-rate note tranche and a three-year A$150 million fixed-rate note tranche. The Kangaroo bond is guaranteed by CLP Power.
A CLP spokesperson...
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