Dismay as bond sales stall despite ideal conditions

18 Mar 2010

Asian bond buyers were left frustrated this week as a series of planned new issues failed to materialise despite near-perfect market conditions. Bankers blamed unrealistic borrowers, slowdowns in getting documentation ready, pending result announcements and a busy start to the year for Asia’s more frequent issuers.

The scene looked set for five days of heavy issuance after Shinhan Bank, CLP Power and ICTSI all drew strong demand for bond sales worth a total of $1.45bn last week, leading to strong secondary market rallies. But despite strong secondary markets and increased investor appetite, not a ...

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