"Hong Kong KCRC eyes Global Bond Sales | AboutHK.Com - more information about HK"

Kowloon-Canton Railway Corp (KCRC), a Hong Kong government-owned rail operator, plans to sell offshore bonds through a global medium term note program, two sources with the plans said on Monday. No decision on the timing of transactions, one of the sources said. Both sources are rejected because the information is not been made public. KCRC part of Hong Kong subway operator MTR Corp. (0066.HK), hired Citigroup (CN), Deustche Bank (DBKGn.DE) and HSBC (HSBA) (0005.HK) to GMTN Plan, with the issuer to sell debt denominated in various currencies, the sources added. All of the Lead Manager of GMTN plan, whose size has not yet completed, was for an opinion. Calls on the KCRC's Media Relations team were not answered. KCRC swung to a net loss of HK $ 1.8 billion ($ 232.3 million) during the year ended in December 2008 by a HK5.3 billion profit a year earlier, according to its website. The train operator attributed to the loss of depreciation in its rail assets and interest from outstanding loans, which have been taken to provide for an extension of railways. KCRC is rated "AA-plus by Standard & Poor's and Fitch Ratings and" Aa3 "by Moody's Investors Service. Comments Please login to post comments or replies.