HONG KONG

摘要

CK INFRASTRUCTURE has tapped the international bond market again after around two months to print a subordinated fixed-for-life perpetual note that set the lowest coupon for the structure in Asia's corporate space.The Hong Kong-based infrastructure company priced US$300m fixed-for-life perpetual non-call five notes at par to yield 4%, inside initial price guidance of the 4.2% area.The new issue is the second fixed-for-life perp from CKI this year, after it raised US$300m from a 4.2% subordinated perp callable in June 2026 on May 24. It sets the lowest coupon for CKI's perpetuals with fixed-for-life structure.CKI's quick return to the bond market came as rates have been falling consistently, offering the issuer a good opportunity to print the same structure as in May, according to a banker on the deal.