by Amruth Sundarkumar | Jan 12, 2023 | Financial Institutions, Insights, Perpetual Bonds
Investment Grade Bonds High Yield Bonds Perpetual AT1 Bonds While 2022 has been an annus horribilis for most bond investors, there is opportunity looking into 2023. With rapid and aggressive rate hikes from the Fed, bond yields are now at levels not seen in over a...
by Amruth Sundarkumar | Dec 22, 2022 | Corporates, Financial Institutions, Perpetual Bonds
Macro Investment Grade Bonds High Yield Bonds Perpetual Bonds/AT1s China Real Estate CoCo/AT1 bonds just like the rest of the bond market, had a bad year. However, they fared much better than the equity market and investment grade bonds. For example, the US CoCo/AT1...
by Amruth Sundarkumar | Nov 10, 2022 | Banks, Financial Institution Bonds, Financial Institutions
Credit Suisse raised about $5bn via a multi-currency issuance across euro and dollar denominated bonds. It raised: €3bn via a 6Y bond at a yield of 7.856%, 30bp inside initial guidance of MS+525bp area. The senior unsecured bonds are rated Baa2/BBB-/BBB by...
by Amruth Sundarkumar | Nov 8, 2022 | Financial Institutions, Perpetual Bonds, Southeast Asia
Korea’s Heungkuk Life Insurance Co. which had last week announced skipping the call option on November 9 on its USD 4.475% Perp has reversed its decision. The insurer will now redeem its 4.475% perps at 100 tomorrow, leading to a 25 point rally in the perps to...
by Amruth Sundarkumar | Nov 4, 2022 | Financial Institutions, Perpetual Bonds, Southeast Asia
Korean bank dollar perps including the likes of Kookmin Bank, Shinhan Group, Woori Bank etc. have dropped sharply this week (see chart above). This comes after Korean insurer Heungkuk Life Insurance Co. announced skipping the call option on November 9 on its USD...
by Amruth Sundarkumar | Sep 26, 2022 | Banks, China, Financial Institutions
In the latest state-led measure for property developers, China Construction Bank (CCB) will set up an RMB 30bn ($4.2bn) fund for a 10-year period to buy properties from Chinese developers. CCB will “invest in existing assets” of real estate companies and...
