Swire Pacific to finalise at least 1 bln hkd bond issue in 2 mths

HONG KONG (AFX-ASIA) - Swire Pacific Ltd said it expects to finalise its proposed medium term bonds issue of not less than 1 bln hkd in two months. "The bond market is good now," group financial director Martin Cubbon said. The funds raised will be used for efinancing, working capital and for the land premium payment for its Taikoo Shing development, he added. Cubbon said the size of the medium term notes programme is expected to start from 1 bln hkd, with the actual size depending on market conditions. In addition, he said it is likely that the company may secure a syndicated loan later this year, but added that nothing has been finalised.

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