Hyva and DBP seize bond market window

Hyva Global’s $375 million high-yield bond shines in secondary trading and is followed quickly by Development Bank of the Philippines’ $300 million bond.

The after-effects of Japan’s earthquake and tsunami dominated headlines last week, shaking investors’ confidence and spreading volatility through the market. Late in the week though, a window opened for two issuers Hyva Global and Development Bank of the Philippines to jump in and price US dollar bonds on Friday.

Netherlands-headquartered Hyva Global braved the market first with its $375 million high-yield bond. There was some uncertainty at first as to whether the deal would get...

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