by bondevalue | May 6, 2021 | Southeast Asia
UOB reported strong Q1 numbers with net profits up 18% YoY and 46% QoQ to S$1bn ($750mn). The bank said that fee income grew to a record high of S$638mn ($478mn) led by wealth management fees from investments and bancassurance similar to peer DBS which reported...
by bondevalue | May 4, 2021 | Singapore Dollar Bonds, Southeast Asia
Mapletree Industrial Trust raised S$300mn ($225mn) via a Perpetual non-call 5Y (PerpNC5) bond at a yield of 3.15%, 22.5bp inside initial guidance of 3.375% area. The bonds have expected ratings of BBB- and received orders over S$1.1bn, 3.7x issue size. Asset managers...
by bondevalue | Apr 12, 2021 | Credit Ratings, High Yield Bonds, Southeast Asia
Moody’s downgraded Sritex to Ca from B3 with a negative outlook. Sritex is planning on restructuring its bank debt, which once completed, would be considered by Moody’s as a distressed exchange and thereby a default under the agency’s definition. Loss of bank funding...
by bondevalue | Apr 6, 2021 | High Yield Bonds, Southeast Asia
Geo Coal, the Indonesian coal miner said that it hit the minimum requirement of 84mn tonnes of regulatory-compliant coal reserves that it had to meet. It stated that its two qualified mines in Indonesia, SDJ and TBR produced 4.9mn tonnes and 7.7mn tonnes respectively...
by bondevalue | Mar 12, 2021 | Southeast Asia
A feud has emerged between Singapore’s City Developments Ltd (CDL) and its Chinese unit Chongqing Sincere Yanchuang Industrial Co. after the latter missed a local currency bond payment due on Tuesday. After the missed payment, Sincere put up a statement on its...
by bondevalue | Feb 5, 2021 | High Yield Bonds, Southeast Asia
Indonesian textile and garment manufacturer Sri Rejeki Isman (Sritex) is said to have asked lenders of its dollar loan to extend the debt’s maturity by two years to 2024, as reported by Bloomberg on Thursday. Joy Citradewi, head of corporate communications said...
