The volume of bond issuance has picked up considerably during the past week with borrowers from several asset classes tapping the market.
What gives At the beginning of this week, when PSA International issued its $500 million bond, we pointed out that it's a low-yield environment. However, with both Country Garden and STATS ChipPAC each issuing high-yield bonds on Wednesday, it is clear that despite a weaker market backdrop in Asia, borrowers and investors are keen to get deals done regardless of the current climate.
In the last two weeks alone, $4.2 billion of debt has been printed in the Asia ex-Japan G3 markets. Since the beginning of...
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