Hong Kong Land launches roadshows

Easing what is expected to be a highly successful entry into the international bond markets, Hong Kong Land will no longer have to contend with competing transactions from the China sovereign and Citic Pacific, both of which had been previously scheduled for launch at the same time. The pricing prospects of the $300 million 10 year transaction are also likely to be considerably boosted by the luck of launching on the back of the Federal Reserve's surprise 50bp rate cut on Wednesday, which has driven all Greater China spreads tighter.

With Goldman Sachs, HSBC and JPMorgan as joint lead managers, there will be two roadshow teams led by CEO Nicholas Sallnow-Smith in Hong Kong and Finance director Boon Wee Kuah in Singapore. One team is then said likely to move to London on Monday and other to the US. Both will then meet up in New York on Tuesday, with pricing scheduled to take place either Wednesday or Thursday.