Top Section/Ad
Top Section/Ad
Most recent
◆ 12 year bond surprises bankers with strong demand ◆ Orders fall as pricing tightens ◆ Deal lands close to fair value
AT&T’s 19 year bond found buyers this week, but rate uncertainty and a flatter euro curve have dampened investor demand for duration
August forecast to be a strong month for corporate dollar supply
Stable backdrop, steady rates and strong demand give issuers reasons to move before the post-summer rush, bankers said
More articles/Ad
More articles/Ad
More articles
-
China Power International Development returned to the dim sum market on Tuesday with an Rmb2bn ($324m) three year issue. It was the first Asian offshore renminbi deal in two weeks. -
State Grid Corporation of China launched a triple tranche $3.5bn deal on Monday. While the 10 and 30 year tranches priced inside the curve of China National Offshore Oil Corporation (CNOOC), the deal nonetheless suffered from investor fatigue as the market struggled to digest the $9.5bn already raised by Chinese state owned enterprises this month.
-
CLP Power attracted a strong following from institutional investors for a hybrid perpetual non-call 5.5 year bond that was priced on April 29. The trade was intended to strengthen the issuer’s balance sheet following the announcement of big acquisitions at the end of last year.
-
A debut bond from Ratchaburi Electricity Generating Holding (Ratch) this week was met with strong demand, suggesting political unrest in Thailand has yet to deter investors from Thai credit. Investors were ready to consider a longer tenor and wanted a bigger size from Ratch, but the issuer stuck to its original targets.
-
Lenovo made its dollar debut on Tuesday night with the largest ever single tranche senior Reg S transaction in Asia. Investors flocked to the deal with an $8bn order book, and bankers said the issuer was able to avoid the concession that it had been expected to pay for being unrated.
-
April was a month of records for dollar deals in Asia ex Japan's debt capital markets. Not only did it see the largest monthly volume of new issues ever — a staggering $33bn — but also the biggest bond from an Asian issuer for more than a decade. Bankers and analysts expect there to be little let-up in the months ahead, with oil companies and Indonesian credits dominating the line-up, writes Isabella Zhong.
