Asian firms may shelve bonds on market turmoil
The demise of Lehman Brothers and sale of Merrill Lynch has created fear psychosis in the credit markets, forcing Asian companies to reconsider new debt issue plans.
The tumultuous events of last weekend and the subsequent tsunami in the credit markets around the world may force highly rated Asian corporates to consider shelving their debt raising plans. If 10 days ago there was some glimmer of hope that at least fundamentally sound, highly-rated Asian companies may be able to raise new debt, that hope has been totally dashed by the demise of Lehman Brothers and the sale of Merrill Lynch to Bank of America.
The confidence of...
To continue reading, please login or register for free