Stanley Ho’s Shun Tak Markets Dollar Bonds as Issuance Plunges
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Shun Tak Holdings Ltd. is marketing dollar-denominated bonds amid a 72 percent decline of issuance in the Asia-Pacific region this month. Bond risk fell.
Shun Tak, controlled by the family of gambling mogul Stanley Ho, is considering offering the seven-year bonds at around 6 percent, a person familiar with the deal said. This would be the first benchmark offering in the U.S. currency for the Hong Kong-based ferry operator and property developer, according to data compiled by Bloomberg. Dollar bond sales in the region have fallen to $10.5 billion from January, the data show.