Asian borrowers rush to market ahead of FOMC meet

Kexim, National Savings Bank and China Orient Asset Management tap bond investors.
Borrowers are hurrying to close deals before the upcoming meeting of the Federal Open Market Committee, chaired by Ben Bernanke, on September 17 and 18.
Borrowers are hurrying to close deals before the upcoming meeting of the Federal Open Market Committee, chaired by Ben Bernanke, on September 17 and 18.

After a drought in August, the flurry of issuance seen towards the end of last week harkened back to the days when several deals priced in a single day. On Thursday night, three borrowers - Kexim, National Savings Bank and China Orient Asset Management - seized a window in the market to take money off the table.

Russia and South Africa, as well as US telecoms group Verizon, also printed jumbo bonds last week and borrowers were hurrying to close deals before the upcoming Federal Open Market Committee meeting on September 17 and 18.

Kexim tested investor demand for floating rate notes while National Savings Bank and China Orient Asset Management both closed...

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