Far East Consortium Sells Hotel for $162mn
Far East Consortium (FEC) sold its four-star 267-room Dorset City London Hotel in Aldgate High Street for £115mn ($162.1mn). FEC units Mazuma Holdings and Dorsett Hospitality (UK) sold the property to Aldgate Hotel Bidco, a unit of US-based Highgate Hotels and...
BEA Sells Life Insurance Biz for $653 Million to AIA
Hong Kong-based banking major Bank of East Asia (BEA) announced the sale of its life insurance unit to insurance giant AIA for HKD 5.07bn ($653mn). As per SCMP, the transaction is the result of a strategic review called for by activist shareholder Elliott Management,...
Cathay Pacific to Raise ~$775 Million via HKD Convertible as Cash Burn Is Likely to Widen
Hong Kong’s flag carrier Cathay Pacific announced on Wednesday that it is planning to sell 5Y convertible bonds denominated in Hong Kong dollars to shore up cash. The airline is looking to raise HKD 6bn ($774mn) with an option to upsize the deal further via 5Y...
ICBC, Trafigura Launch $ Bonds; ABN, Rabobank, Europcar Downgraded; China SOEs on Pentagon List Raise $4.3bn in Bonds
Better economic data improved sentiment and lifted US and European markets as the FOMC meeting got underway. US factory output climbed 1% and Germany’s ZEW economic sentiment index came at 77.4 vs. 71.5 expected. Investors will look to the Fed meeting for...
