Hong Kong Land brings aggressive bond debut

Having started roadshows with the intention of pricing a $300 million 10 year deal at a 10bp to 15bp premium to Hutchison Whampoa, Hong Kong Land has ended them with a $600 million deal 4bp through Hutch and without a new issue premium. For those who doubted the wisdom or veracity of opting for such an aggressive benchmark, a final order book just shy of $2.5 billion would seem to suggest otherwise.