HONG KONG, Sept. 26 (Xinhua) -- The Hong Kong Airport Authority said on Tuesday that it plans to launch three-year bonds worth up to 5 billion HK dollars (about 641 million U.S. dollars) to the public next year, as part of its plan to raise funds to build the third runway.
The authority's CEO, Fred Lam, said the bonds are issued "in accordance to the wishes of the people," as part of efforts to enhance public engagement in the multi-billion project, local media reported.
But Lam said it's too early to decide on the pricing of the bonds, which will be offered in the third quarter of next year.
The runway is expected to cost 141.5 billion HK dollars. A third of that will be financed by the authority's operating surplus, while about 20 percent will come from airport construction surcharge paid by passengers.
The rest, about 69 billion HK dollars, will be raised through bonds and loans.(1 U.S. dollar = 7.8 U.S. dollars)
