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HPH Trust in $1bn notes issuance
Singapore: Hutchison Port Holdings Trust has been fund raising. Yesterday, the Singapore listed arm of the global port operator issued $500m 2.25% guaranteed notes due 2018 and another $500m 2.875% guaranteed notes due 2020.
Bank of America Merrill Lynch and HSBC were appointed as the joint bookrunners and the joint lead managers for the issuance of the notes.
HPH Trust said it intends to use the net proceeds from the issuance to pay back debts.