Tag: bonds

Standard Chartered Bank (China) joins Citi and J.P. Morgan to become a market maker in China's national interbank bond market. Deutsche's Patrick Tsang and Mark Whitcroft share their views on expected trends in the Asian bond markets. The six- and 10-year bonds are issued to refinance existing debt and mark Hutchison's largest bond deal since 2003. PSA International raises $500 million in 10-year benchmarking exercise. The five-year issue by the state-owned oil company comes at the tightest spread for a quasi-sovereign so far this year, and leads to a narrowing of the Korean credit curve. Korea's state-owned gas company impresses investors with its scarcity value and triggers a surge of support for other Korean credits too. The paper manufacturer uses its cash resources to launch a second tender for its outstanding bonds, while cash-strapped Powerchip is forced to pay its CB investors partly in ... China allows renminbi settlement for cross-border trade ahead of the G8 summit. Investors tender $1.77 billion of bonds by the early deadline, versus the company's offer to buy back $1.5 billion. The majority of the bonds tendered are in the shortest ... The company is offering to buy back another $1.5 billion of bonds; this time from two issues maturing in 2010 and 2011. China Merchants International raises $587 million onshore through its parent and becomes the latest in a string of Hong Kong-listed Chinese companies to take advantage of lower ... Cathay United Bank is offering to buy back up to $125 million of its sole international bond at a discount. A more vibrant corporate bond market would also improve financing conditions for SMEs and provide companies with an alternative financing channel when the banking system is ... The company achieves a 58% acceptance rate for its bond buyback tender which closed on Monday – only marginally more than the 57% tendered by the early deadline. Bondholders are unhappy with the offer, while the chairman stresses that it is the only way to prevent liquidation. Rival bankers attack the sovereign GMTN issue as being too cheap. Sour grapes anyone? The paper manufacturer offers to pay 53 cents to the dollar to buy back the remaining $283.75 million of a bond it issued less than a year ago. Korea Development Bank's benchmark deal follows on the heels of Kexim's $2 billion offering and lifts hopes that credit markets are re-opening. Export-Import Bank of Korea sets the pace for other Korean borrowers by raising $2 billion without an explicit government guarantee. Korea intends to launch its biggest offer of foreign currency-denominated bonds since 1998, once its currency stabilises.