Five companies emerged yesterday with plans to tap the Asian bond market soon and the rush shows no sign of abating before the Lunar New Year. So far, the pipeline is dominated by high-yield issuers.
“There is a strong pipeline of high-yield names and they should get done. The question is how long the window will stay open. If Europe starts weakening, then the market could shut down completely. But, for now, we see good demand, given the strong growth in Asia-dedicated funds in recent years,” said one debt capital markets banker.
China property firm Evergrande Real Estate plans to issue a dual-tranche three- and five-year benchmark. The bonds will be denominated in...
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