MTR Corp says it may revisit the bond market in the next seven months to fund $6 billion in capital expenditure on expansion over the next three years. Finance director Lincoln Leong Kwok-kuen said the rail company might sell bonds to overseas investors this year as it wanted to take advantage of free liquidity in many Asian markets, from which investors were looking for higher yielding financial instruments amid the low interest-rate environment. 'We are always looking for opportunities in the market,' Mr Leong told Bloomberg on the sidelines of the Asian Development Bank's annual meeting in Istanbul, Turkey, yesterday. 'Our capital expenditure for the next three years is only six odd billion Hong Kong dollars combined, so it's not significant,' he said. Just last month, the 75 per cent government-owned rail operator raised $1 billion through 10-year and 15-year bonds of $500 million each. While the company said it was not arranging any bond issue now, analysts said the utility company would have no problem coming to the market. A credit rating of A-plus by Standard & Poor's, which yesterday raised its outlook to 'positive' from 'stable', meant MTR would be in high demand by institutional investors. With as much as $63.5 billion in shareholder funds and $30 billion in debt, analysts said MTR's strong balance sheet showed it had no pressing need for fresh capital. However, they said the company might want to borrow now by issuing long-term bonds to lock in attractive interest rates - especially as rates will probably trend upwards - as it expected more projects to be approved by the government soon. Dilip Parameswaran, the head of capital markets credit research at Calyon, said MTR might be expecting imminent approval to build two extensions to the Island line - one to connect Wong Chuk Hang with Sai Ying Pun, passing through Cyberport, and the other joining Ap Lei Chau with Admiralty, through Ocean Park.