Pacific Century Premium Developments' (HKG:0432) $500 million note offering has attracted interest from RRJ Capital and Pacific Investment Management, who bought around 80% of the property developer's 7.5% guaranteed notes due 2029, Bloomberg News reported Monday, citing people familiar with the matter.
The offering, which is meant to refinance Pacific Century unit PCPD Capital's $800 million in prior borrowings, was led by RRJ Capital, the report said.
The support from the two firms signals that investors may be willing to tap into select developers' high-yield debt amid a recovery in Hong Kong's property sector, Bloomberg said.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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