RRJ, Pimco Invest in HK Developer PCPD’s $500 Million Bond Sale

RRJ Capital and Pacific Investment Management Co. are among investors in a $500 million bond offering from Hong Kong billionaire Richard Li’s Pacific Century Premium Developments Ltd., according to people familiar with the matter.

The investment firms have bought around 80% of the property developer’s new notes that are maturing in May 2029, with RRJ leading the deal, said the people, who asked not to be identified discussing private matters.

Hong Kong developers’ fundraising efforts are under close scrutiny as the city starts to emerge from a yearslong property slump. The two firms’ support signals that investors may ...