智通财经APP讯，周大福创建(00659)发布公告，于2025年9月25日(交易时段前)公司与联席账簿管理人 已订立认购协议，据此，根据认购协议的条款及条件，联席账簿管理人已有条件及个别(而非共同或共 同及个别)同意认购或促使认购公司将予发行本金总额22.18亿港元的债券并为其付款。债券的发行价将 为债券本金总额的103.00%，而每张债券的面值将为200万港元及其完整倍数。 债券持有人有权就其债券行使交换权，要求公司按初始交换比率交付或促使交付按比例分配的交换财产 份额，即债券本金额中每200万港元须交付或促使交付75.29万股首程股份。组成初始交换财产的首程股 份占首程于本公告日期已发行股本约10.0%及为集团透过RPL持有首程的接近全部股权。 公告称，集团一直不断使其融资来源多元化，并优化业务组合，从而提升为股东创造长远价值的能力。 透过发行事项，公司得以按具吸引力的条款筹集资金，而若债券持有人行使债券所附的交换权，公司亦 可借此机会把握当前有利市场环境，以溢价出售于首程的股权，从而进一步优化及加强其业务组合。 所得款项净额将为约22.5亿港元。目前公司拟将发行事项的所得款项净额用于持续厘定的一般企业用 ...

公告称，集团一直不断使其融资来源多元化，并优化业务组合，从而提升为股东创造长远价值的能力。 透过发行事项，公司得以按具吸引力的条款筹集资金，而若债券持有人行使债券所附的交换权，公司亦 可借此机会把握当前有利市场环境，以溢价出售于首程的股权，从而进一步优化及加强其业务组合。 所得款项净额将为约22.5亿港元。目前公司拟将发行事项的所得款项净额用于持续厘定的一般企业用 途，其中约50%拟于适当时机，优先考虑投资于具韧性、能产生现金流兼具增长潜力并与集团的业务板 块相符的项目。 周大福创建(00659)发布公告，于2025年9月25日(交易时段前)公司与联席账簿管理人已订立认购协议， 据此，根据认购协议的条款及条件，联席账簿管理人已有条件及个别(而非共同或共同及个别)同意认购 或促使认购公司将予发行本金总额22.18亿港元的债券并为其付款。债券的发行价将为债券本金总额的 103.00%，而每张债券的面值将为200万港元及其完整倍数。 债券持有人有权就其债券行使交换权，要求公司按初始交换比率交付或促使交付按比例分配的交换财产 份额，即债券本金额中每200万港元须交付或促使交付75.29万股首程股份。组成初始交换财产的 ...

Core Viewpoint - Emerging market issuers are entering the euro bond market at the fastest pace in over a decade, driven by strong global demand for non-dollar assets and the need for financing diversification [1][4]. Group 1: Market Trends - As of July 18, emerging market corporations and governments have issued €89 billion in bonds, marking the highest amount for this period since at least 2014 [4]. - Eastern European countries, particularly Poland and Romania, are leading in euro bond issuance, with Poland and Romania together issuing €21 billion [4]. - The euro bond issuance is expected to remain high relative to dollar bonds, despite its smaller share in the total emerging market bond issuance [1][4]. Group 2: Investor Sentiment - Investors are increasingly seeking opportunities outside of dollar-denominated credit, with a preference for euro bonds due to more attractive spreads [5][8]. - Goldman Sachs strategists noted that euro bonds have outperformed their dollar counterparts shortly after issuance, indicating strong market absorption [5]. - The overall demand for emerging market bonds remains robust, driven by the yield advantage over other markets [8]. Group 3: Future Outlook - The trend of euro bond issuance is likely to continue, as investors reassess their strategies in light of potential economic slowdowns in the U.S. and a weakening dollar [5][8]. - Countries like Brazil and Colombia are considering re-entering the euro bond market, reflecting a shift towards euro-denominated financing [8]. - JPMorgan's Weiler emphasized that while the dollar remains the core financing currency for emerging markets, the euro offers significant market depth as an alternative [9].