SEBI Imposes Limit on Foreign Investments of Rupee-denominated Debt
India’s market regulator, Securities and Exchange Board of India (SEBI), adjusts foreign investor limit on purchases of rupee-denominated corporate bonds, on Thursday last week (20 July). According to the latest change, foreign investors would only be allowed to...
DBS Green Bonds Well Supported By Strong Investor Demand
DBS Group Holdings, rated Aa2/AA– (Moody’s/Fitch), successfully completed US$500 million in 5-year floating rate bonds on Tuesday. This was DBS’ debut green bond issue, with the use of proceeds earmarked towards green projects or assets, which are likely to include...
Chinese Rating Firm’s Push for More Transparent Credit Ratings
Dagong Global Credit Rating Co., prepares to introduce a digital credit rating platform in the subsequent months, in bid to boost transparency their country’s at-times-questionable rating environment. This proposed platform requires that companies submit financial...
HNA Bonds Dip as Bank of America Halts Deals
Amid increasing concerns about the opaque structure and level of indebtedness at HNA Group Co, Bank of America has instructed its investment bankers to hold off on deals with them. This is in line with similar stances held by firms like Citigroup and Morgan Stanley,...
Daimler’s €100 Million Ethereum Bond: How Blockchain Can Change the Bond Game
Daimler, parent company of Mercedes-Benz, transacted €100 million in a one-year corporate bond completely via an ethereum based blockchain system just last month, June 2017. This issuance, also known in German as Schuldschein, notably carried out the “entire...
Greenko Issues Asia’s Largest Green Bond of $1 Billion
On Monday (17 July), Greenko – India’s market leading clean energy company, raised as much as US$ 1 billion in their multi-tranche bond issuance. This would be the largest green bond issuance by a privately held company in Asia, thus far. Specifics: Tranche 1 (5...
Why Foreign Investors Are Wary of China’s Massive Debt Market.
At USD 10 trillion, China has an incredibly large debt market – Should foreign investors be afraid? Certain characteristics of this market definitely set some bells ringing. A couple of key issues surface: one, the disproportionate number of bonds awarded AA or above,...
SoftBank Issues Largest Non-Investment Grade Hybrid
SoftBank Group sets a record at US$4.5 billion for the largest junk-rated perpetual, issued in 2 tranches of US$2.75 billion at 6% with an early Redemption date of July 19, 2023, and US$1.75 billion at 6.875% with an early Redemption date of July 19, 2027. The...
Yellen’s Testimony on Inflation to Provide Clues on Fed Policy
All ears are on Fed Chairman Janet Yellen these 2 days as she gave her testimony yesterday expressing concern over inflation and is due to speak again tonight on this as well as the market-sensitive Fed balance sheet and interest rate position. Yellen’s...
