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Olam's return signals Asian debt revival

Euromoney, 2016-05

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Title:
Olam's return signals Asian debt revival
Author: Wright, Chris
Subjects: Bond issues ; Capital markets ; Funding ; International finance ; Stockholders ; Waters, Muddy
Is Part Of: Euromoney, 2016-05
Description: Two weeks later, China Aoyuan Property Group launched a $250 million high-yield deal that was seven times covered, breathing life into a Chinese high-yield market that is increasingly being undercut by domestic issues there. "The markets, although they are reopening, remain cautious," says Clifford Lee, head of fixed income at DBS Bank, a lead manager alongside HSBC and Credit Suisse on the Olam deal. "The pipeline is improving, but non-Japan Asia issuance is still only 66% of last year's levels, so we still have a way to go to get back to recent historical activity," says Derek Armstrong, head of debt capital markets, Asia Pacific, at Credit Suisse. Perhaps the most interesting area to watch will be Chinese high yield, which until recently could be expected to account for about two thirds of all regional high-yield issuance. "Since last year, the onshore bond market in China has opened up to...
Publisher: London: Euromoney Institutional Investor PLC
Language: English
Identifier: ISSN: 0014-2433
Source: ProQuest Central

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