can-companies-turn-to-domestic-bond-markets

Can companies turn to domestic bond markets?

As volatility persists across global markets, some Asian issuers are turning towards the local bond market to raise funds. Is this the beginning of a trend?
August 21, 2007
Over the last few weeks, a few Asian corporates have announced their intentions to raise funds from their local bond markets, rather than the dollar market.

Kia Motors postponed a dollar bond offering in June, and now plans to sell W200 billion $211.4 million in domestic bonds, while Hanjin Heavy Industries and Construction said it was tapping the domestic market for $100 million to roll over maturing bonds. In addition, Korean company LS Cable intends to raise $100 million to finance its general operations.

Indonesian telecom operator Mobile 8 also said it was likely to turn to the Indonesian bond market for the $50 million it failed to raise after its dollar offering was downsized...
¬ Haymarket Media Limited. All rights reserved.

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