A flurry of Asian issuers particularly North Asian entities has hit the global debt capital markets amid speculation that the US Federal Reserve will further delay the tapering of its bond-purchase programme, leading to a decline in US Treasury UST yields.
Haitong International Finance raised a whopping $900 million five-year debut bond with a coupon of 3.95% on Tuesday. The Reg S registered deal was priced 12.5bp tighter than its initial price guidance of Treasuries plus 287.5bp, according to a term sheet seen by FinanceAsia.
“The market is very receptive and selective on good names,” said a source close to the deal. “The quality of...
¬ Haymarket Media Limited. All rights reserved.
