HONG KONG: Li & Fung $500m bond issue to fund acquisitions
Global sourcing giant Li & Fung is to issue $500m of perpetual bonds to raise funds for “strategic acquisitions and business development”, the company said.
Li & Fung said the cash injection would enable it to take advantage of shifts in the global economy and in consumer trends, particularly in Asia and especially in China.
The perpetual bonds will be listed on the Singapore Stock Exchange, with investors being sought in Asia and Europe, the company added.
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