Hybrids thrive

Perps in vogue as China Resources and ICTSI print deals

Asia's corporate hybrid market is well and truly open. ICTSI closes the first dollar hybrid out of the Philippines, while China Resources Power prices a $750 million perpetual.

<div style="text-align: left;">ICTSI's Manila International Container Terminal</div>

Denise Wee

April 29, 2011

Asia’s corporate hybrid market is buzzing again after investors’ dismal experience with the instruments last year. State-owned China Resources Power and Philippine port operator International Container Terminal Services (ICTSI) both closed deals last night, raising close to $1 billion in total.

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