Asia's markets issue $1.4 billion of debt

It was a busy day in Asia with Country Garden, STATS ChipPAC and Union Bank of India printing a total of $1.4 billion in new bonds, keeping Asia on track to field the busiest quarter in the debt markets for 2010.

The volume of bond issuance has picked up considerably during the past week with borrowers from several asset classes tapping the market.

What gives At the beginning of this week, when PSA International issued its $500 million bond, we pointed out that it's a low-yield environment. However, with both Country Garden and STATS ChipPAC each issuing high-yield bonds on Wednesday, it is clear that despite a weaker market backdrop in Asia, borrowers and investors ...

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