Parkson Retail Group, a Beijing-based unit of Malaysia's Lion Group, may price its first international bond sale to yield about 8 per cent today after a roadshow in London, people familiar with the matter said. 'It's a bit on the low side,' a fund manager said of the yield guidance. 'We are still working at it before deciding to buy.' Parkson has attracted US$1.2 billion in orders and expects the total to top US$2 billion once the London orders are included. It does not plan to raise the size of the bond, market sources said. The company hired JP Morgan Chase to arrange US$200 million in five-year bonds, which Parkson will swap into 1.5 billion yuan to be used to fund expansion. China's Xinhua Finance, which is also tapping the international bond market for the first time, set an indicative yield of 10.25 to 10.5 per cent as it raises US$100 million. The company will finalise the price tomorrow. 'The yield has to be higher than that of Parkson,' an investor said. 'It's a good company but it has a weaker credit profile.' The proceeds will be used mainly for strategic acquisitions and to refinance an outstanding syndicated loan, Standard & Poor's said. Property developer Greentown China Holdings sold US$400 million bonds on Friday at a price of 9 per cent, or 432 basis points over five-year US treasuries. The bonds were not attractive enough for fund managers to switch from similar holdings.