DCM dollar floodgates open wide

Baidu, China Overseas Land, Shui On Land and SM Investments raised $2.4 billion in new bonds on Wednesday, taking advantage of an issuance window.

Issuers such as Baidu, China Overseas Land, Shui On Land and SM Investments have been determined to capture a favourable issuance window before the release of market-moving data on Thursday, raising a total of $2.4 billion in new bonds on Wednesday.

Key data points this week such as the European Central Bank’s expected interest rate cut and the release of the US’ non-farm payrolls due Thursday and Friday respectively have been on market participants’ radar, experts said.

“With sentiment and US Treasuries yields being quite good, issuers might have fast forwarded their funding plans to get ahead of any potential market moving data,” said a Hong...

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