Li & Fung plans $500 mln perpetual bonds to fund acquisitions

HONG KONG Thu Nov 1, 2012 8:13pm EDT

HONG KONG Nov 2 (Reuters) - Li & Fung Ltd, a manager of supply chains for global retailers including Wal-Mart Stores Inc and Target Corp, said it would issue $500 million of perpetual bonds to help fund business development and acquisitions.

The U.S. dollar-denominated subordinated perpetual capital securities will carry a 6 percent coupon but will not have a maturity date. They will be listed in Singapore Stock Exchange on Nov. 9, the company said on Friday.

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(Reporting by Donny Kwok; Editing by John Mair)


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