Two dual-tranche bond issues launched in the past few days have taken the markets by storm a positive sign as the new year gets under way.
The Republic of Indonesia’s ROI $4 billion dual-tranche bond split equally into 10- and 30-year buckets was heavily oversubscribed, receiving a total order book of $18 billion from more than 700 accounts globally.
The same goes for The Export-Import Bank of Korea’s Kexim $1.5 billion dual-tranche paper split equally between a three-year floating rate note FRN and 10-year SEC-registered fixed-rate bond which received a total order book of $6.4 billion from 365 accounts globally.
Both deals have...
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