This site uses cookies to provide you with a great user experience. By using BondbloX, you accept our use of cookies.
Bond Market News
FWD Plans Buyback of 8.4% 2029s with New Two-Part Dollar Bond Issuance
September 15, 2025
Hong Kong insurer FWD Group has launched a new two-part dollar bond issuance via a 5Y and 10Y note to repurchase its $900mn 8.4% 2029s for cash. Its filing noted that the cash tender offer was meant to “optimise the capital structure and cost of financing”, with the offer expiring on September 22. This comes just months after the insurer raised HKD 3.5bn ($450mn) via its IPO in Hong Kong, four years after its initial quest. Besides, it also recently reported a surge in its H1 net profits by ~15x, to $47mn from $3mn a year prior. The new 5Y and 10Y dollar issuances are launched at an initial price guidance of 210bp and 230bp over the corresponding benchmark Treasury yield. As per a source, the issuance has received orders of over $3bn at the time of writing.
While the purchase price for the 8.4% 2029s under the buyback offer is at $101.65 per $100 in principal, the notes are currently trading at 101.9 .
For more details, click here.
Go back to Latest bond Market News
Related Posts:
BondbloX Pte. Ltd. is regulated by the Monetary Authority of Singapore as a Recognised Market Operator ("RMO") and exempted from Section 49(1) of the Securities and Futures Act (Cap. 289) ("SFA") under Section 49(7) of the SFA.