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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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Vietnamese conglomerate Vingroup is on course for a second spin-off using a novel private placement-style structure, after pricing Vinhomes’ D30.7tr ($1.35bn) listing this week. The structure offers a tempting route for potential issuers in the country’s unpredictable equity market. -
Keppel DC Reit’s overnight share sale to raise S$303.1m ($227.6m) was more than two times covered, according to the company.
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The Belt and Road Initiative (BRI) may be highlighting the dollar’s dominance rather than the renminbi’s potential in the global economy. But Beijing has other aces up its sleeve, Paola Subacchi, an economist at Chatham House, said at the Asian Development Bank’s annual meeting.
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More widespread use of the International Monetary Fund's special drawing rights could prevent a currency war, Thierry de Longuemar, chief financial officer at the Asian Infrastructure Investment Bank (AIIB), said on May 4. But the treasurer got little sympathy from other experts at the Asian Development Bank’s meeting.
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A 675bp rate hike from the Argentine central bank, BCRA, on Friday finally brought some support to the peso. But the sovereign’s bonds continue to trade poorly as the currency’s recent free-fall highlighted the many vulnerabilities in the country’s economic recovery.
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Indomobil Finance Indonesia has returned to the offshore loan market for a new $100m borrowing, according to a banker invited to participate in the deal.
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