Deals
HKEX to Issue $500 Million of Bonds to Finance LME Deal
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Hong Kong Exchanges & Clearing Ltd., the second-biggest bourse by market value, expanded a convertible bond issue by 25 percent on higher demand, helping to fund its purchase of the London Metal Exchange.
The exchange will sell $500 million of the bonds, up from the $400 million planned, according to a statement today from the bourse operator. The notes, which will mature in 2017 and pay an annual coupon of 0.5 percent, has an initial conversion price of HK$160.00 per share.