Shinhan bond shows "sweet spot" for Asian new issues
Shinhan Bank’s $700m 2015 bond rallied quickly on its first day of trading on Tuesday despite its aggressive pricing, demonstrating the appeal of Asian new issues in an improving market.
The 5.5 year bond opened in Asian trading hours at a bid/offer price of 200bp/195bp over Treasuries, after pricing at 205bp over Treasuries the night before. It had rallied to 196bp/193bp by around 11am Hong Kong time, and closed the day just under 10bp tighter at 199bp/196bp.“It rallied ...
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