Asia $3.1b bond sales ease pipeline pressure

Indonesia sells dollar sukuk, China Taiping launches perpetual bond, while Haitong and ICBC Macau open books for more dollar offerings.

A raft of issuers raised more than $3 billion worth of bonds on Tuesday, easing the pressure built up over the summer period as US Treasury yields remained attractive.

The Republic of Indonesia sold a $1.5 billion 10-year global sukuk while Chinese insurer China Taiping raised a $600 million perpetual bond.

Other issuances include Sri Lanka’s state-owned bank National Savings Bank, which sold a $250 million five-year note, and Korean Development Bank’s $750 million SEC-registered 5.5-year offering.

“There has been a significant pipeline build-up over summer and we expect to see the rest of the year being very busy for bond issuance,” Ashish...

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