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Apple and China Three Gorges: Gorge on the Green Bond Trend
Apple raised a USD 1 billion green bond aimed at financing clean energy and environmental initiatives. The company said that they are committed to the Paris climate accord even though President Trump is against it. The bond has a 3% coupon and is trading above par at...
Fed Signals One More Hike for 2017
As expected the Fed hiked rates by 25 bps. Asian corporate bonds rallied post FOMC. US 10 year bond yields continue to decline, they are now at 2.14% and at the lows for the year. The next meeting is on July 27, with only a 2.5% chance of a hike. Should inflation and...
China to Issue First Sovereign Bond since 2004
Following a previous downgrade of China's credit rating by one notch to A1 on May 24th, China continues its efforts in bonds offerings in bid to internationalise its currency. China’s Ministry Of Finance has announced that it will issue 14 billion of Yuan denominated...
1, 2, 3, 4th Fed Hike!
The Fed is in the midst of its two-day policy meeting. It is widely anticipated that it will hike rates for the 4th time in this cycle late Wednesday night Asia time. With only one increase each in 2015 and 2016, this will also be the first time that two rate hikes...
So how much can a bond trader lie?
A Jury in the US is deliberating what constitutes a lie, as the cases against three Ex- Nomura bond traders draw to a close. The main charges are about the traders lying to customers about prices of bonds and teaching their subordinates in the firm on how to lie. The...
Troubled waters for Anbang as it reports Chairman’s failure in duties
Anbang Insurance Group Co. has announced their Chairman Wu's inability to continue performing his duties, even as a local magazine reported that he was detained by the Chinese authorities. The news is yet another piece in a web of intrigue surrounding Anbang, which in...
Posh Spice; Only high-quality Masala bonds to be permitted under new RBI regulations
As per the new norms issued by the Reserve Bank of India, Masala bonds are required to have a minimum maturity of 3 years which is to be extended to 5 years if the issuer intends to sell them for a sum greater than $50 Million. The RBI has also capped the coupon rates...
PT Soechi Lines’ bond deal faces rough seas, while others sail thru
Indonesian Tanker company PT Soechi Lines decided to postpone its dollar bond offering announced on Monday citing market uncertainty and typhoon Merbok that hit Hong Kong. Moody’s had rated the bonds B1 and the initial guidance was at 8.375%. The issuer had also held...
Reliance Communication bonds end flat for the week.
Reliance communication has issued a statement protesting the latest round of downgrades carried out by rating agencies. The main argument put forth is that the downgrades do not reflect the ongoing strategic discussions with Aircel and the sale of the tower business....
