Li & Fung prices $500 million bond tight of guidance

The company prices its deal attractively, leading to strong demand and with a strategy designed to ensure a strong performance in the secondary market.

Li Fung, the 100-year old trading company operating in the consumer goods market, priced its 10-year $500 million Reg-S senior unsecured fixed-rate bullet bond at 40bp over mid-swaps yesterday. Despite typically low demand for investment-grade paper at this kind of price, the book closed with an oversubscription of $2 billion dollars.

The company conducted 18 one-on-one meetings during the Hong Kong and Singapore roadshow, with 56 investors attending the Hong Kong lunch, excluding bankers and those affiliated to Li Fung....

To continue reading, please login or register for free

Click for more on: li and fung | citi | hsbc

Print Edition

FinanceAsia Print Edition

CONFERENCES