Hyva and DBP seize bond market window

Hyva Global’s $375 million high-yield bond shines in secondary trading and is followed quickly by Development Bank of the Philippines’ $300 million bond.

The after-effects of Japan’s earthquake and tsunami dominated headlines last week, shaking investors’ confidence and spreading volatility through the market. Late in the week though, a window opened for two issuers Hyva Global and Development Bank of the Philippines to jump in and price US dollar bonds on Friday.

Netherlands-headquartered Hyva Global braved the market first with its $375 million high-yield bond. There was some uncertainty at first as to whether the deal would get done amid the choppy market conditions, but it closed successfully in the end and the bonds rallied in the secondary market.

The five-year non-call-three Reg-S144a bond offered a coupon of 8.625%...

¬ 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 subscription (2-5 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 subscription (2-5 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