POST-TRANSACTION PAYMENT ENABLEDBOND COMPLEXITY : HIGHISIN: XS2327458191
CKINF 4.200% Perpetual Corp (USD)
CHEUNG KONG INFRASTRUCTURE FINANCE (BVI) LIMITED
Indicative Bid Price
67.665
Bid Yield to Worst
6.207%
Bid Yield to Call
604.761%
Min. Investment (Nominal)
200000
Indicative Ask Price
70.274
Ask Yield to Worst
5.977%
Ask Yield to Call
536.302%
Next Call Date
01 Nov 2026
Credit Rating (Bond)
N.R
No Rating
Seniority
Subordinated
Investor Profile
Stable Income Seeker
Chart
Created with Highcharts 9.3.2Chart context menuBid Yield to WorstAsk Yield to WorstBid Yield to CallAsk Yield to Call1. Sep3. Sep5. Sep7. Sep9. Sep11. Sep13. Sep15. Sep17. Sep19. Sep21. Sep23. Sep25. Sep27. Sep29. Sep0100200300400500600700FSM Global
Bond Information
Bond Issuer
Cheung Kong Infrastructure Finance (BVI) Limited
Guarantor
CK Infrastructure Holdings Limited
Announcement Date
23 May 2021
Issue Date
01 Jun 2021
Maturity Date / Next Call Date
Perpetual / 01 Nov 2026
Years to Maturity / Next Call
Perpetual / 0.087
Issue/Reoffer Price
100.000
Issue/Reoffer Yield
4.200
Coupon Type
Fixed
Annual Coupon Rate (%)
4.2
Annual Coupon Frequency
Semi Annually
Seniority
Subordinated
Exchange Listed
HKEX
Reference Rate
-
ISIN
XS2327458191
CUSIP
BP7289591
Bond Currency
USD
Total Issue Size
USD 300,000,000
Minimum Investment Quantity (Nominal)
USD 200,000
Incremental with Min Investment Quantity (Nominal)
USD 1,000
Bond Registration
Wholesale
Bond Type
Corporate
Bond Sector
Financials
Bond Sub Sector
Diversified Financial Services
Issuer Credit Rating (S&P/ Fitch)
***/N.R
Bond Credit Rating (S&P/ Fitch)
***/N.R
Shariah Compliant
No
W-8BEN Declaration needed 
No
Bond Feature(s)
Cumulative Deferral

Any Distribution deferred pursuant to this Condition 4(c) shall constitute "Arrears of Distribution". The Issuer may, at its sole discretion, elect to further defer any Arrears of Distribution by complying with the foregoing notice requirement applicable to any deferral of an accrued Distribution. The Issuer is not subject to any limit as to the number of times Distributions and Arrears of Distribution can or shall be deferred pursuant to this Condition 4(c) except that Condition 4(c)(v) shall be complied with until all outstanding Arrears of Distribution have been paid in full.

Dividend Stopper

If on any Distribution Payment Date, payment of all Distribution payments scheduled to be made on such date is not made in full by reason of this Condition 4(c), the Issuer and the Guarantor shall not:

(A) declare or pay any discretionary dividends, distributions or make any other discretionary payment on, and will procure that no discretionary dividend, distribution or other discretionary payment is made on any of its Junior Securities or (except on a pro rata basis) its Parity Securities, provided that such restriction shall not apply to payments declared, paid or made in respect of an employee benefit plan or similar arrangement with or for the benefit of employees, officers, directors or consultants; or

(B) redeem, reduce, cancel, buy-back or acquire for any consideration any of its Junior Securities or its Parity Securities on a discretionary basis, provided that such restriction shall not apply to an exchange of any Parity Securities in whole for Junior Securities or a repurchase or other acquisition of any securities in respect of an employee benefit plan or similar arrangement with or for the benefit of employees, officers, directors or consultants,

unless and until (i) the Issuer or the Guarantor has satisfied in full all outstanding Arrears of Distribution; or (ii) the Issuer and the Guarantor have been permitted to do so by an Extraordinary Resolution (as defined in the Agency Agreement) of the Holders.

Dividend Pusher

3-month look-back dividend pusher
The Securities may be redeemed at the option of the Issuer in whole or in part, on the Distribution Payment Date falling in June 2026 or on any day thereafter (each, a "Call Settlement Date") on the Issuer giving not less than 30 nor more than 60 days’ notice to the Holders (which notice shall be irrevocable and shall oblige the Issuer to redeem the Securities on the relevant Call Settlement Date at their prevailing principal amount plus Distribution accrued to such date (including any Arrears of Distribution and any Additional Distribution Amount)), provided that, in the case of a partial redemption of Securities, the aggregate principal amount of the Securities outstanding is no less than U.S.$200,000,000.

Callable on and anytime after 02 June 2026 at 100.00.
Price History
(Daily prices for the last 3 months), if you wish to view more than 3 months price history you may export the file
DATE
BID PRICE
ASK PRICE
ASK YIELD (CALL)
ASK YIELD (WORST)
29 Sep 202667.66570.274536.3025.977
28 Sep 202668.49069.584553.9206.036
27 Sep 202667.67268.721576.4416.111
24 Sep 202667.79468.965590.8136.090
23 Sep 202668.02869.182564.3436.071
22 Sep 202668.36669.621552.9676.033
21 Sep 202668.44769.613553.1736.033
20 Sep 202669.48470.462531.5605.961
17 Sep 202668.00072.000511.6675.833
16 Sep 202668.00072.000493.6745.833
Total of 67 entries
10 / Page
FSM Global strives to ensure the accuracy and relevance of the information provided here. If the information is not up-to-date or erroneous, we appreciate feedback to keep it accurate.
Credit Rating

There are no credit rating changes for this bond for the past 3 years.

Related Documents
pdfIcon
Offering Circular
U.S.$300,000,000 4.20 per cent. Guaranteed Perpetual Capital Securities. Offering Circular dated 24 May 2021.
pdfIcon
Preliminary Offering Circular
Preliminary Offering Circular Dated 24 May 2021
Related Bonds
BOND NAME

ISSUER

MATURITY DATE / NEXT CALL DATE
ASK PRICE
ASK YTM / YTW
BOND CREDIT RATING (S&P/FITCH)
action
CKINF 4.000% Perpetual Corp (USD)

Cheung Kong Infrastructure Finance (BVI) Limited

 28 Jul 2165 67.757 5.904% p.a. ***/N.R
TRANSACT
Total of 1 entries
10 / Page
  • page
  • 1 / 1
  • You're on page 1
  • page
FSM's Fees
For more information, please refer to the Pricing Structure
For each Buy & Sell Order (Retail^, Wholesale, Bond Express)
Processing Fee
0.35% / Min. SGD 10*
Platform Fee
0.05% per quarter
Other Charges
Goods & Services Tax (GST)
9% (GST is applicable to Singaporean residents on FSM’s fee)
Order Processing Time
Buy Wholesale Bonds / SGS Bonds / Retail (All payment type)
Generally T+2 business days upon payment clearance
Sell Wholesale Bonds / SGS Bonds / Retail Bonds
Generally T+2 business days (Redemption proceeds will be credited on next day)
waveHandIcon

Remark

  1. *Processing fee is subjected to a minimum of SGD 10 (or in its equivalent currency).
  2. ^ For the purchase of the Retail Bonds, FSM Global will be absorbing SGX related Charges, till further notice.
  3. T = Transaction Date
    The Order processing time refers to the order completion and reflected in your account.
    ^The Purchase date will be based on T date

Platform Charge
  1. For the purpose of benefiting from lower rates based on higher investment holding tiers, the effective platform fee rate is based on the total combined holdings of all FSM accounts under main account holder (including beneficiary accounts), while Stock / ETF / Cash Account holdings are excluded from the combined holdings amount.
  2. Platform fee is charged for funds / bonds investments (excluding CPF holdings). The fee is accrued daily, calculated based on the daily average market value of the total Assets Under Administration (AUA) and deducted on a quarterly basis.

Note
  1. All fees and commission quoted are exclusive of Goods and Services Tax (GST).
  2. Platform fee is charged for funds / bonds investments (excluding CPF holdings). The fee is accrued daily, calculated based on the daily average market value of the total Assets Under Administration (AUA) and deducted on a quarterly basis.

Potential Income Explained
EDIT
Est. Payable Amount
USD 144,367.67
Years to Call
20 days
Est. Total Income
USD 3,500.00
Yield to Call
-
Indicative Cash Flow
Nominal Value
USD 200,000.00
  • 2026
    Nov
    Coupon
    USD 3,500.00
    Early Redemption
    USD 200,000.00
Disclaimer: Cash flow calculations are computed based on current coupon rate till next possible call or maturity date. Figures reflected are indicative and subjected to changes in case of any corporate actions.
Tools
Bond Calculator
Bond Selector
Recommended Bonds
Yield Curve
Index Data
Related Articles
BONDS Billion Cash from Core Asset Sale — Is CKI's 5.3% USD Perpetual Bond a solid defensive pick?
iFAST Research Team
27 Mar 2026