Asia Pacific
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Fears that opening up the sector more could lead to capital outflows are exaggerated. Instead, India's insurance sector would benefit from more foreign investment
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SK Global Chemical printed South Korea’s first public dim sum bond of the year with what bankers saw as competitive pricing, underscoring investor demand for well-established companies in a market that is still struggling to harness larger supply.
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Korea South-East Power Co (Kosep) issued a seven year bond on September 12, in the longest Kangaroo outing from a Korean issuer since 1996.
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In this week’s roundup of offshore renminbi news, central banks ink RMB swap agreements, SanFran looks to be a renminbi hub, and Total breaks the dim sum issuance drought.
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More issuers are achieving cheaper debt by selling long-dated CNH-denominated private placements. In doing so, they are marking a way for both issuers and investors to get exposure to tenors that are unavailable in the dim sum market.
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SK Global Chemical printed South Korea’s first public dim sum bond of the year with what bankers saw as competitive pricing, underscoring investor demand for well-established companies in a market that is still struggling to harness larger supply.
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ANZ New Zealand and Kommunalkredit Austria are poised to price €500m five year covered bonds. Both deals have gone without a hitch, with oversubscriptions from a broad range of investors. However, given the lacklustre performance of other recent deals, leads were cautious on pricing and offered attractive spreads.
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SK Global Chemical printed South Korea’s first public dim sum bond of the year with what bankers saw as competitive pricing, underscoring investor demand for well-established companies in a market that is still struggling to harness larger supply.
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South Korean manufacturer SK Global Chemical announced its first foray into offshore renminbi bonds on September 16, the first issuer from the country to issue a public dim sum bond this year.
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Raymond Yeung, senior economist at ANZ, speaks with Asiamoney Video about the challenges China faces to globalise the renminbi, and what FX policies the market can expect in the coming months.