Henderson Land joins dollar bond rush with $400 million print

But investors worry that the bond rally is over.
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Henderson's World Financial Centre in Beijing
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<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 of the largest property developers in...

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