新发债焦点 | 香港铁路有限公司

中信证券财富管...
19 Jun

6月16日,香港铁路有限公司 (以下简称“港铁公司”) 发行了两笔次级永续债券,合计募集资金30亿美元,这两笔债券的提前赎回期限分别为5.5年和10.5年。这是港铁公司首次发行永续债券,其中一个原因是永续债在会计和监管方面被视为具有资本性质的工具,具有特殊的权益特征和弹性条款。在资产负债表上,只有其中50%的发行量被认定为债务,这对发行人的信用评级影响较小。发行人背景港铁公司成立于1975年,是...

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