Asian issuers flood dollar market

China Overseas Land, Evergrande and HDFC Bank join the flurry of issuers in accessing global debt markets, spurred by declining Treasury yields.
There is speculation that the US Federal Reserve will further delay the tapering of its bond-purchase programme.
There is speculation that the US Federal Reserve will further delay the tapering of its bond-purchase programme.

A flurry of Asian issuers particularly North Asian entities has hit the global debt capital markets amid speculation that the US Federal Reserve will further delay the tapering of its bond-purchase programme, leading to a decline in US Treasury UST yields.

Haitong International Finance raised a whopping $900 million five-year debut bond with a coupon of 3.95% on Tuesday. The Reg S registered deal was priced 12.5bp tighter than its initial price guidance of Treasuries plus 287.5bp, according to a term sheet seen by FinanceAsia.

“The market is very receptive and selective on good names,” said a source close to the deal. “The quality of...

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