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MTR CORPORATION's Investment Need as High as $200B Next Decade, which May be Funded by Bond Issue & Asset Sale
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MTR CORPORATION (00066.HK) is entering a period of major investment. Local media, citing people with the knowledge of the matter, said that MTR CORPORATION conservatively estimated its investment needs to be as high as $200 billion in the next decade, i.e. by 2034, which is above the company's current market cap of $165.3 billion. The corporation also forecast the need to finance itself by issuing bonds and selling some of the units it owns in rent collection projects. It may use a combination of various ways to raise funds, including considering the issuance of 30-year long-term bonds to relieve the pressure on cash flow, people with the knowledge of the matter told. It is believed that there is room for the debt ratio to hike from the current about 30% to 60%. MTR CORPORATION had previously committed to spend about $65 billion over the five-year period from 2023 to 2027 on railroad asset renewal and maintenance. In addition, it will invest more than $100 billion between 2027 and 2034 for the construction of new railway stations in Kwu Tung, Hung Shui Kiu, Tuen Mun South Line and Siu Ho Wan Station. AAStocks Financial News |
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