IFR's daily digest of views & news for capital markets professionals
Asian Sovereign offshore debt issuance may nearly double in 2014 after a dry year in which only Indonesia and Korea brought deals.
Emerging markets bonds are expected to bounce back in 2014 after the asset class experienced its worst slump in five years.
Undercapitalised European banks are expected to face higher wholesale funding costs in the coming year as investors start to price in heightened bail-in risk, market experts said at Citigroup’s credit conference on Thursday.
Risky assets will be on the firing line, says James Saft.
While Blackstone’s IPO of hotelier Hilton hogged all the attention on Wednesday night, the busy sponsor also completed the nearly US$1bn sale of holdings in two other companies it has recently taken public, theme park operator SeaWorld Entertainment and branded food products company Pinnacle Foods.
One of the largest offloading of legacy US mortgage risk to the secondary market this year by a European bank – though largely successful – attracted grumbling from market participants about the lack of transparency in the pricing process.
Anthony Peters says don’t fear the taper.
The buyside is adapting to a less liquid bond market, undermining dealers’ warnings.
Hilton Worldwide, the world’s largest hotel chain, priced its long-awaited IPO at US$20, the upper end of the price range, and slightly increased the number of shares offered to raise a total of US$2.35bn.
(Reuters) - Bondholders and large depositors in a failing European bank face taking losses from the start of 2016, European Union negotiators agreed on Wednesday, in a provisional deal on rules to spare taxpayers from further bailouts.
Top Stories from this week's IFR Asia magazine
Released online Saturday 23:00 Hong Kong / Friday 16:00 London
China’s stalled IPO market could be back in business as early as January, but the reopening is unlikely to reverse the flow of Chinese companies planning to list in Hong Kong.
India’s capital-hungry banks are looking to overseas markets for a boost to their Tier 1 capital, setting the scene for a crucial first test of international appetite for hybrid capital securities from the country.
A growing backlog of subordinated bonds is putting Chinese lenders under pressure to find alternative sources of capital, potentially opening the door for the country’s first hybrid securities.
Fraser and Neave has bowed to pressure from bondholders, improving the terms of a liability-management exercise that will pave the way for the Singapore conglomerate to spin off its property business.
Attractive pricing levels are drawing investors to the IPOs of two Chinese financials that are expected to give a US$5bn boost to the Hong Kong market before the year ends.
As the festive season draws near, the US$1.5bn delisting of US-traded Chinese online-game developer and operator Giant Interactive Group promises to bring cheer to the Asian lending community.
Qantas Group’s downgrade to junk status by Standard & Poor’s last week underlines the potential risks to bondholders from a spate of lower Triple B corporate issuance in Australia’s bond market this year.
The Islamic Republic of Pakistan has launched its first syndicated loan in nearly a decade and a half, giving Asian lenders their first taste of a sovereign borrowing in over five years.
Just as more Chinese banks start providing credit-enhancement services to US dollar bonds, bankers are predicting an end to the use of standby letters of credit in the bond market.
True Corp is poised to complete Thailand’s second infrastructure trust IPO, even though anti-government protests on the streets in Bangkok have forced one equity deal out of the market.
Mobile phone group Bharti Airtel opened a new market for Indian companies last week with the biggest euro-denominated bond outside the country’s financial sector.
UBS is looking to transfer equity capital markets bankers between the US and Asia in a bid to replicate some of its Asian success in the Americas.