Hong Kong's CK Hutchison aims to raise at least $1 billion in dollar bond deal -sources

By Scott Murdoch

SYDNEY (Reuters) - Hong Kong's CK Hutchison Holdings is aiming to raise at least $1 billion in a two tranche dollar bond deal, according to two people with direct knowledge of the matter.

The people spoke on condition of anonymity as the information is not yet public.

CK Hutchison has mandated seven investment banks ahead of a potential deal, according to a term sheet seen by Reuters that did not give details on the amount it was looking to raise.

The ports-to-telecoms conglomerate owned by billionaire Li Ka-shing is considering issuing 5- and 10-year bonds, the term sheet shows.

CK Hutchison did not immediately respond to a request for comment.

The deal is subject to financial market conditions, according to the term sheet.

CK Hutchison in March reported a 9.5% rise in its 2022 net profit to HK$33.5 billion ($4.27 billion), helped by a one-off $HK10 billion gain from mergers and acquisition transactions.

($1 = 7.85 Hong Kong dollars)

(Reporting by Scott Murdoch in Sydney; Editing by Tom Hogue and Himani Sarkar)