SmarTone completes first bond offering

Mobile network operator SmarTone Telecommunications has completed a US$200 million bond offering that will help finance the company's bid to renew its 3G spectrum licence in 2016.

This is the first foray by SmarTone, a subsidiary of Sun Hung Kai Properties, into the international bond market. The 10-year notes issue, which is guaranteed by the company, carries a coupon of 3.875 per cent and a yield premium of 215 basis points above comparable US Treasury yields.

via Business feed http://www.scmp.com/business/companies/article/1202203/smartone-completes-first-bond-offering