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....
“Frexit” fears fade; Risk-on sentiment develops
Geopolitical tensions over North Korea and Syria took a backseat last weekend as eyes point toward the first round of French Presidential Elections, which saw Emmanuel Macron beating the far-right leader Marine Le Pen, with a projected total of 23.7% to 21.9%....
Selling of Bond Securities by the Fed Unlikely to Affect Rate Hikes
Almost 4 years after the U.S. Federal Reserve first announced plans to taper its bond purchase programs, it is now planning to move a further step with the paring of of some of its US$4.5 trillion in bond holdings. Boston Fed President Eric Rosengren expects this...
Record Dollar Issuance out of China Threatened by Investor Concentration
Notwithstanding the robust USD issuance out of China this year, with a record of US$51.7 billion already raised year-to-date, a quick look at order books reveal that Chinese banks took about half of the issued bonds. Whereas U.S. based asset managers bought an...
Saudi Arabia raises $ 9 billion via largest ever Sukuk bonds
Saudi Arabia issued five and ten year dollar bonds in record bond deal. At $ 4.5 billion for each of the two tranches the deal was easily the largest ever bond deal, previously Qatar and Indonesia have achieved a size of $ 2 billion.
Asian bond performance hurt by worsening geopolitical risks
Notwithstanding the strong Asian issuance of late, this week’s new bonds suffered in post-issuance trading due to increased geopolitical troubles from North Korea and Syria. The likes of Bank of China, Citic Securities and India Oil’s deals widened a few basis points...
