Citic takes to the road

Citic Pacific begins roadshows on Thursday for its first deal since the Asian financial crisis.

The $300 million 10-year deal looks set to ride on the back of positive momentum generated by China's jumbo Eurobond, which is scheduled to price on the day that Citic launches presentations in Singapore. A month ago, when it seemed as if the two deals might come head to head with Hongkong Land, there had been concerns that Citic might end up being the one to get cannibalized. Now it appears that unsatisfied demand from the China deal could feed through to Citic and help it meet its spread targets when it prices on Thursday, May 24.

Indicative pricing already suggests that joint bookrunners HSBC and Merrill Lynch are confident...

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