China high yield expected to fly high, but not for long

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By Rev Hui
30 Sep 2014

The high yield market is bracing itself for another onslaught from Chinese borrowers in the last part of the year. But a combination of an onshore real estate slump and questions about whether the impending flood of Basel III transactions could reprice the sector are causing bankers to have second thoughts about the outlook, writes Rev Hui.

With interest rates still hovering at record lows but amid expectations that the US may start raising them in 2015, many Asia ex Japan issuers have rushed to the debt market for funding, taking advantage of the abundant liquidity.

As a result it has been an extremely busy ...

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