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Hong Kong airport authority’s US$640 million retail bonds to fund new runway prove popular with investors in boost for city’s aviation hub ambitions

01 Feb Hong Kong airport authority’s US$640 million retail bonds to fund new runway prove popular with investors in boost for city’s aviation hub ambitions

Posted at 09:42h in Asia

Airport Authority Hong Kong’s (AAHK) HK$5 billion (US$640 million) retail bonds, the first for the general public by the city’s airport operator in 20 years, received overwhelming response from investors.The 4.5 per cent, 2.5-year bonds were oversubscribed more than three times, logging HK$15.69 billion from...

31 Jan Hong Kong’s banks report bumper profits in 2023 as record interest rates swell margins

Posted at 07:39h in Asia

Hong Kong’s banks reported their second straight year of bumper profits, as higher funding costs bloated their net interest margins, while a general recovery in post-pandemic business activity increased the demand for loans.Pre-tax profit among the city’s retail banks increased by 62.1 per cent in...

HSBC fined US$73 million by UK watchdog Prudential Regulation Authority for incorrectly excluding customers’ cash from protection scheme

30 Jan HSBC fined US$73 million by UK watchdog Prudential Regulation Authority for incorrectly excluding customers’ cash from protection scheme

Posted at 12:57h in Asia

HSBC Holdings was fined £57.4 million (US$73 million) by the UK for incorrectly excluding billions of pounds of its customers’ money from a depositor protection programme.Imposing the penalty, the Prudential Regulation Authority (PRA) said on Tuesday that the lender failed to properly comply with...

25 Jan Airport Authority retail bonds to be oversubscribed, BOCHK says, but HSBC reports only ‘favourable’ demand

Posted at 13:30h in Asia

Airport Authority Hong Kong’s (AAHK’s) HK$5 billion (US$640 million) retail bonds are expected to be oversubscribed, but have not generated as much buzz as the green bonds the Hong Kong government issued in September, banks and brokers said.Bank of China (Hong Kong) (BOCHK), a co-arranger...

22 Jan Chinese Vice-President Han Zheng meets HSBC Group chairman Mark Tucker in Beijing, urges deeper cooperation: state media

Posted at 12:30h in Asia

Chinese Vice-President Han Zheng met HSBC Group chairman Mark Tucker in Beijing and urged the bank to deepen cooperation with China and make contributions to Hong Kong’s status as an international financial centre, according to a report by official state news agency Xinhua on...

22 Jan The cheque’s end is nigh: Hong Kong’s banks set road map to phase out paper payment in their embrace of e-payments

Posted at 00:30h in Asia

Three years of Covid has pushed the public towards digital payments, leading to a decline in the use of cheques, said Lim, who is also the Hong Kong CEO of HSBC. The HKAB’s chairmanship is rotated annually between the bosses of HSBC, Standard Chartered and...

17 Jan Hong Kong airport operator’s retail bonds take off on first day of sales, HSBC and BOCHK say

Posted at 11:10h in Asia

In fact, demand for the notes matched the popularity of the Hong Kong government’s green bonds issued in September last year, according to HSBC, Hong Kong’s biggest bank and a co-arranger of the deal.“Compared to the retail green bond issuance by the Hong Kong government...

16 Jan HSBC, Standard Chartered, Bank of China among lenders waiving fees for Hong Kong airport operator’s US$640 million retail bond

Posted at 00:30h in Asia

Banks and brokers are waiving a range of fees for retail investors eyeing Airport Authority Hong Kong (AAHK)’s highly anticipated HK$5 billion (US$640 million) bond, which opens for subscription on Wednesday.HSBC, Hong Kong’s biggest bank, plans to waive eight types of charges for the airport...

10 Jan China stock catalysts seen lacking as economic woes run deep while Goldman bets on a 19 per cent rebound to end 3-year slump

Posted at 07:00h in Asia

China’s stock market suffers from a lack of positive drivers as the new year begins and Beijing’s support efforts are likely to keep falling flat amid persistent risks, according to analysts and money managers.Geopolitical tensions, China deflation and a possible US recession are seen...

05 Jan Hong Kong’s airport authority to launch US$640 million retail bond, its first in 20 years, to finance third runway

Posted at 07:18h in Asia

“We want to issue the retail bonds to give Hong Kong residents a chance to participate in the third runway project,” Julien Lee, executive director of finance at AAHK, said at a media briefing on Friday.(From left) William Shek, managing director and head of markets...

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