China
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Two overseas issuers launched bonds in Thai baht this week as DaimlerChrysler and Citigroup matched their local funding needs with baht investors’ search for diversification. DaimlerChrysler (Thailand), the local unit of the German car maker, priced its Bt2.5bn ($77m) two year bond on Monday towards the tight end of guidance after the issue was 1.6 times oversubscribed. The bonds were launched at par to yield 4.51%, which was towards the tight end of price guidance of 4.42% to 4.57%.
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Two overseas issuers launched bonds in Thai baht this week as DaimlerChrysler and Citigroup matched their local funding needs with baht investors’ search for diversification.
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Vietnam Shipbuilding Industrial Group, better known as Vinashin, is expected to price its D3tr ($192m) 10 year bond today (Friday) after attracting as much as D9tr of orders during a successful bookbuilding process.
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It has been a strong start to the year in the Hong Kong dollar market. Sixty deals worth over HK$13bn ($1.67bn) have been launched — almost 20% more than in the same period in 2006, according to Dealogic data.