Undeterred by yesterday’s grim market conditions, Bank of China Hong Kong, Hana Bank and Union Bank of India have forged ahead with fixed-income investor meetings this week.
However, perhaps because of the parlous state of markets, bankers arranging the meetings have emphasised that they are “non-deal roadshows” and that the borrowers are not in urgent need of funds.
It was a rocky start to the week, to say the least. The US released dismal payroll data last Friday, reflecting that hiring stagnated during August, which led Asian credit markets to open substantially wider this week. The iTraxx Asia investment-grade index, which reflects the cost of...
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