a-bank-a-developer-and-a-retailer-walk-into-a-market

A bank, a developer and a retailer walk into a market...

As global markets are becoming increasingly difficult to predict, Asia's international debt pipeline will look to sell one investment grade and two high-yield deals later this week.

By Unknown Unknown

May 22, 2006

Despite the continued weakness in global bond markets, three new offshore offerings are expected to hit the market later this week. Korean government-owned National Agricultural Cooperative Federation NACF, Philippine developer Megaworld and IndonesiaÆs largest retailer Matahari Putra Prima will all look to test a market starved of new issuance.

It's good to see some deal flow again, one banker assesses. But it's very definitely a buyers' market out there at the moment.

NACF, the primary banker to KoreaÆs farming community, is currently on the road with a $400 million Reg-S lower-tier 2 10-year non call five-year deal led by BNP Paribas, Calyon, and Merrill Lynch. Investor presentations will take place in Singapore and...

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