Jardine Strategic launches roadshows

And the key question is can it price through Hutch?

On the basis of their respective ratings, the answer would appear to be no. Hutchison Whampoa is rated A3A, while Jardine Strategic received a rating of Baa1BBB yesterday - some two notches lower from Standard Poor's.

On the basis of the spread differential between Jardine subsidiary Hongkong Land and Hutch on the other hand, the answer is almost certainly yes. When the former delivered a debut Eurobond in late April, many were sceptical that it would be able to price through Hong Kong's de facto corporate benchmark because it has a one notch lower rating from Standard Poor's A3A- and some bankers argued that Hutch should be accorded a liquidity premium....

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