Henderson Land joins dollar bond rush with $400 million print

But investors worry that the bond rally is over.
<div style="text-align: left;">
Henderson's World Financial Centre in Beijing
</div>
<div style="text-align: left;"> Henderson's World Financial Centre in Beijing </div>

Henderson Land jumped on the funding bandwagon last night, joining a growing crowd of Hong Kong companies that have tapped the market this year. The property developer priced a $400 million five-year bond at Treasuries plus 415bp, about 10bp inside the initial guidance, which was in the area of Treasuries plus 425bp.

DBS, HSBC, J.P. Morgan, Morgan Stanley and Standard Chartered were joint bookrunners. The coupon for the bonds, which mature on February 14, 2017, was fixed at 4.75% and the notes were reoffered at 99.215 to yield 4.929%.

Henderson Land was founded in 1976 by its current chairman Lee Shau Kee and is one...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222