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Secondary market selling of private bonds may be wreaking havoc with the primary market for public debt but the trades were still the right thing to do
Sovereign's $3bn deal tightens well as Asian demand returns
The sovereign's public and private bonds of similar maturities are trading over 25bp apart
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Uzbekistan's bond market debut, which is expected to be priced as early as Wednesday, has captured the attention of emerging market investors.
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Sunac China Holdings priced a large three year callable bond, taking advantage of the abundant liquidity in the market following Chinese New Year. But investors appeared to hold back when it came to less familiar names.
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Korea Development Bank has raised $1bn from a dual-tranche bond that came inside its secondary curve, as investors flocked to high quality, investment grade rated credits.
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The Republic of Indonesia returned to the bond market in style this week, using a tried-and-tested formula by adding a green tranche to a $2bn sukuk.
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Chinese regulators published a draft of new rules for corporate Panda bond issuers at the start of February. Bankers say the rules have done little to address one of the biggest headaches for potential issuers, but they do represent a step forward.
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The People's Bank of China held the tender of its second offshore renminbi issuance in Hong Kong on February 13. Both the Rmb10bn three-month note and the Rmb10bn one-year note were priced significantly lower than the first auction in November.
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