Dim sum bonds

Dim sums keep pace as Axiata and Shinhan print deals

Bond markets go gangbusters as Axiata issues a debut sukuk, while RoadKing, Korea Hydro, Siam Commercial Bank and Nonghyup Bank raise $2 billion collectively.
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Asian borrowers rushed to get deals done before Ben Bernanke and the Federal Reserve Board decide on US quantitative easing
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<div style="text-align: left;"> Asian borrowers rushed to get deals done before Ben Bernanke and the Federal Reserve Board decide on US quantitative easing </div>

Despite disappointing China trade data, Asia’s dollar bond markets are off to a flying start after the summer, with four borrowers raising $2.1 billion so far this week. This included Chinese high yield borrower RoadKing Infrastructure and Korea Hydro Nuclear Power, which raised $350 million and $750 million respectively on Tuesday night and Siam Commercial Bank and Nonghyup Bank which collectively raised $1 billion on Monday.

Meanwhile, bond markets were also active in other currencies particularly the offshore renminbi and Singapore dollar market with dim sum bonds from Shinhan Bank and Malaysian telco Axiata, and India Eximbank printing its S$250 million bond. “Issuers are coming from all directions. There...

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