UPDATE 1-Hong Kong's Swire Pacific to raise up to $500 mln via dollar bond, sources say

Reuters06-26 12:37

(Adds details from paragraph 3 onwards)

By Scott Murdoch

SYDNEY, June 26 (Reuters) - Hong Kong conglomerate Swire Pacific is looking to raise $300 million to $500 million through a 5-year dollar bond, according to two sources with direct knowledge of the matter.

The proposed bond has initial price guidance for potential investors of Treasuries plus 120 basis points, according to a term sheet reviewed by Reuters.

The sources could not be named as they were discussing confidential information. Swire Pacific did not immediately respond to a request for comment from Reuters.

Swire Pacific intends to use the money raised for lending within the group and general corporate purposes, the term sheet said.

Swire Pacific owns 45% of Cathay Pacific Airways

, Hong Kong's flagship carrier, according to LSEG data, and a range of other property, healthcare and retail assets across the city.

(Reporting by Scott Murdoch; Editing by Christian Schmollinger and Jamie Freed)

((Scott.Murdoch@thomsonreuters.com;))

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