Rapid Rise in Dollar Issuance by Chinese Developers Since Start of 2019
The Asian dollar bond market has seen a rapid rise in issuance by Chinese real estate developers since the beginning of the year, due to the broad stock market recovery from late 2018 and investor expectations for interest rates being held steady that have boosted...
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Saudi Aramco Raises $12 Billion in Bonds With Orders Over $100 Billion
Saudi Aramco raised $12 billion from its debut international bond issue, completing one of the most oversubscribed deals of all time with orders of over $100 billion. The overwhelming investor demand allowed the oil giant to pay less for its debt than the Saudi...
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Bond Investors Up $75.4 Billion in 1Q19
The Jan-Feb bond party continued into March with 1Q19 mark-to-market gains of $75.4 billion, calculated based on quarterly price gains (ex-coupon) of US dollar denominated bonds in the BEV universe. To illustrate this rally in bond prices, we plotted the average...
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Tencent Completes Asia’s Biggest Dollar Bond Sale in 2019 with $6 Billion Issuance
Chinese internet giant Tencent Holdings Ltd. priced $6 billion of bonds in Asia's biggest sale of dollar debt in over a year, adding to the wave of borrowers fighting to lock in low interest rates. Its 5-part bond issuance - comprising of a 5-year floating rate...
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New Bond Issue Process – Explained
One of the ways to invest in bonds is through the primary markets, by subscribing for new bond issues. Because the new issue process and related terms can be unfamiliar and intimidating for new bond investors, we aim to explain the overall new bond issue process and...
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SIA Bonds Upsized to S$750 million Following Strong Investor Interest
Singapore Airlines (SIA) has completed its S$750 million 5-year bond offering at 3.03%, with a placement tranche of S$300 million and a tranche placed to retail investors of S$450 million. The 5-year bonds had been upsized from S$500 million following strong demand...
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Masala Bonds – Everything You Need to Know
What are masala bonds? Masala bonds are Indian Rupees (INR) denominated debt instruments that are issued outside of India. Since these bonds are issued outside of India, they are settled in US dollars (USD). The unique feature of masala bonds is that Rupee currency...
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Fed Signals Rate Hike Pause as Inflation Stays Muted and Global Risks Weigh on Economic Outlook
Federal Reserve Chairman Jerome Powell announced at a press conference on 20 March that the U.S. central bank is putting interest rates on hold for “some time” as inflation remains muted and global risks, including the trade disputes with China and possible spillovers...
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Italy’s Baa3 Ratings Held Steady by Moody’s, Prompting Relief Rally in Bonds
Moody’s decision not to downgrade Italy’s international sovereign ratings from Baa3, despite ongoing data to show otherwise, sparked a strong rally in Italian debt and was supportive for the rest of the euro zone bond markets. Italy’s 10-year government bond...
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