Global A&T postpones dollar bond as high-yield bid wanes

Time is running out for Asia's high-yield borrowers to issue this year, with Global A&T Electronics being the latest to postpone its bond.

The window for Asia’s high-yield corporate borrowers to issue dollar bonds is fast vanishing, with Global AT Electronics being the latest to postpone its $625 million high-yield bond. The year is drawing to a close and investor appetite for speculative-grade bonds has clearly waned.

The company was planning to issue a six year-bond callable after three years and had embarked on roadshows to Asia and the US. However, on Tuesday, when roadshows concluded, the leads told investors that the bond was postponed due to market conditions.

“The deal was targeting US high-yield investors,” said a source. “We have seen $1.4 billion worth of outflows in...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222