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Tuesday, 24 October 2017

Debt Capital Markets 2016

A special report with IFR Asia magazine 952 (July 23 2016)

Debt Capital Markets: In search of yield

Debt Capital Markets: In search of yield

IFR Asia - Debt Capital Markets 2016

The biggest challenge of any special report on Asia’s debt capital markets is usually finding a common thread among the region’s many individual bond markets. The latest report, however, comes with no such conundrum.

Residents stand around a table full of home-made dishes during Chinese New Year celebrations in Wuhan, Hubei province.

Still on the menu

IFR Asia - Debt Capital Markets 2016 By Daniel Stanton

The renminbi bond market is offering a bewildering array of choices, with more onshore options coming online. The oft-predicted demise of Dim Sum, however, remains a long way away.

A man walks under traffic signs in Tokyo.

Risk and reward

IFR Asia - Debt Capital Markets 2016 By Frances Yoon

The Samurai market is broadening as a result of the search for yield in a negative rates environment, testing Japanese investors’ tolerance for risk.

A farmer removes dried plants from his parched paddy field on the outskirts of Ahmedabad, India.

Through a dry spell

IFR Asia - Debt Capital Markets 2016 By Spencer Anderson

The Asian US dollar subordinated capital market is having a poor year, leaving FIG bankers to focus on senior debt and local currency markets.

Drivers leave the starting grid during the Formula E Championship race in Putrajaya.

Against the odds

IFR Asia - Debt Capital Markets 2016 By Jonathan Rogers

Asia’s sukuk market has defied predictions of doom linked to the fall in oil prices, with sovereign and infrastructure-linked issues potentially pointing to a record year for new issues.

A group of contestants play poker on a platform suspended over a cliff on North Head at the entrance to Sydney Harbour.

Shuffling the deck

IFR Asia - Debt Capital Markets 2016 By John Weavers

Australian dollar funding has caught up to 2015 levels after a jump in issuance from banks and local governments, while Kangaroos and securitizations have contracted.

People wait for tickets at a ticket office of a movie theatre in Wuhan, Hubei province.

Growth tonic

IFR Asia - Debt Capital Markets 2016 By Ina Zhou

Securitisation is taking off in China, creating some much needed breathing room for banks and heavily indebted borrowers, but a lack of reliable data is keeping foreign investors away.

A performer from the Jiangxi Acrobatic Troupe balances a set of glasses on her nose during a Chinese New Year show in Singapore.

Calculated risks

IFR Asia - Debt Capital Markets 2016 By Kit Yin Boey

Singapore dollar debt issuers are luring yield-starved investors with the promise of juicier returns from riskier structures, but high-yield remains a no-go area.

A man looks at solar panels on display at the booth of Baoding Tianwei Group at an exhibition in Shanghai.

Workout in progress

IFR Asia - Debt Capital Markets 2016 By Daniel Stanton

Defaults are no longer taboo in China as the government gives freer rein to market forces, opening up new opportunities for restructuring advisers.