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 are a...

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