The mobile-phone operator is seeking to raise US$1 billion
Hutchison Whampoa is seeking to raise US$1 billion, tapping the bond market for the third time this year in what credit rating agencies say is a prudent refinancing exercise.Wednesday, 14 May, 2003, 12:00am
Hutchison Whampoa is seeking to raise US$1 billion, tapping the bond market for the third time this year in what credit rating agencies said was a prudent refinancing exercise.
The blue-chip conglomerate on Tuesday appointed HSBC to sell its 10-year bonds, which, if successful, would raise the total debt market funds raised this year by Hutchison to US$3.5 billion.14 May 2003 - 12:00am
Credit agency Standard & Poor's Ratings Services affirmed its BBB corporate credit rating on PCCW-HKT Telephone with a positive outlook, citing PCCW's discipline in its use of free cash flow over the medium term is a key influence on the rating. The agency expects PCCW management to use most of its discretionary cash flow to reduce its debt of US$5.3 billion.8 May 2003 - 12:00am
Sun Hung Kai Properties1 May 2003 - 12:00am
The Bank of East Asia (BEA) yesterday became the first local lender to have its credit rating downgraded because of the economic fallout from the Sars outbreak.
BEA managers were not available for comment but a spokeswoman for the bank said it was reviewing the downgrade by Fitch Ratings. The international ratings agency warned that other banks could follow.30 Apr 2003 - 12:00am
Panva Gas Holdings, which supplies gas in eastern, central and southwest China, is raising US$50 million by selling convertible bonds to fund acquisition.
Market watchers said the sale came at an interesting time as the market had been hit hard by the spread of severe acute respiratory syndrome and the repercussions of the Iraq war.11 Apr 2003 - 12:00am
International credit-rating agency Moody's Investors Service has cut its rating for ASAT Holdings - a 43.05 per cent owned unit of QPL International - by two notches on concerns about the company's deteriorating cash flow.
Moody's trimmed ASAT's senior implied rating and its US$100.75 million 2006 guaranteed senior notes to B3 from B1.29 Mar 2003 - 12:00am
Standard & Poor's (S&P) has downgraded the outlook on the credit rating of Hongkong Land Holdings from stable to negative due to additional capital expenditure arising from renovation of the Landmark.26 Mar 2003 - 12:00am