Shui On Land plans US dollar bond next year

The dollar deal will follow on the back of an offshore renminbi bond that the property developer will start marketing today. The two transactions are expected to raise a combined $600 million.

Shui On Land is expected to start a roadshow for an offshore renminbi bond in Hong Kong today. The roadshow will continue to Singapore tomorrow and to London on Wednesday, with pricing expected by the end of this week. Deutsche Bank, Standard Chartered and UBS are joint bookrunners.

The company is also planning a US dollar bond, which it is expected to launch in the first or second quarter of 2011 via the same bookrunners, according to a source.

Shui On Land is the flagship property developer of the Shui On Group in mainland China. It is headquartered in Shanghai and listed on the Hong Kong stock exchange.

Shui On Land’s...

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