Airport Authority Hong Kong has raised $7 billion this week by issuing bonds in three currencies - the largest ever public offering of bonds by a Hong Kong company. Most of that was done in a three-tranche dollar bond deal which garnered $4.

The Airport Authority of Hong Kong (AAHK) raised HK$18.5 billion (US$2.4 billion) from the largest-ever institutional bond denominated in Hong Kong dollars, joining a cohort of borrowers who are tapping the market amid slower-than-expected interest rate reductions.

The Airport Authority of Hong Kong sold HK$18.5 billion ($2.4 billion) of bonds in the largest-ever issuance in the financial hub’s local currency, amid a sluggish recovery in the aviation sector and delays to the airport’s expansion plan.

Airport Authority Hong Kong has raised $4.15 billion in a three tranche dollar bond deal, according to a term sheet reviewed by Reuters on Thursday.