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ABS Mkt Needs More Issuers To Continue Growth

ABS Mkt Needs More Issuers To Continue Growth SINGAPORE (Dow Jones)--The Asian market for securitized assets needs more issuers if it is to continue the strong growth recorded over recent years, securitization professionals said Tuesday. "We just need products. We need to be able to show investors more products," said Warren Lee, head of Asian asset-backed securitization at Standard Chartered, speaking at the Securitization World Asia conference. Investors and economists say a glut of global savings - much of it coming from Asia - is driving demand for very high quality investments. But the Asian securitization market, excluding Japan

HK Bk Of E Asia Sells Upsized $500M Bond For Refinancing

HK Bk Of E Asia Sells Upsized $500M Bond For Refinancing The Bank of East Asia Friday raised a larger-than-anticipated $500 million from what will be one of the last international high-grade bonds in Asia this year. The borrower, Hong Kong's largest domestically owned bank, sold the subordinated bonds at a price of 99.725 to yield 72basis points over mid-swaps. That was in line with revised guidance of 70-75 basis points over five-year mid swaps, or around 122-127 basis points over U.S. government debt. The borrower originally planned to raise $400 million at a premium of around 65 basis points

Around Asia’s markets: Qualms arise over bonds in Indonesia

Around Asia's markets: Qualms arise over bonds in Indonesia Indonesia's dollar-denominated government bonds are poised to fall and will probably trail their Asian counterparts in 2006, according to the brokerage firm Calyon. A doubling in fuel prices in Indonesia last year and record interest rates will slow economic growth to 3.9 percent in 2006 from 5.4 percent in 2005, said Dilip Parameswaran, head of Asian credit research at the securities arm of Crédit Agricole. Gains in the securities in 2005 went too far given the outlook for the economy, he said. Indonesia has $3.9 billion of dollar-denominated debt. It sold

UTI Bank To Expand In Asia, Eyes Hybrid Debt

UTI Bank To Expand In Asia, Eyes Hybrid Debt India's UTI Bank Ltd. (532215.BY) Tuesday opened its first overseas branch in Singapore, and plans to raise up to $700 million in hybrid tier one capital this year as it expands in Asia and the Middle East. UTI Bank, one of India's largest private sector lenders, plans to issue perpetual bonds that will qualify as tier-one capital to take advantage of proposed changes to Reserve Bank of India regulations, said UTI Bank's chairman and managing director P. J. Nayak. Speaking to reporters at the opening of the Singapore branch, Nayak said UTI

Head to Asia but don’t overlook ASEAN, PM Lee urges French businessmen

Head to Asia but don't overlook ASEAN, PM Lee urges French businessmen PARIS : Singapore Prime Minister Lee Hsien Loong has urged government and business leaders in Paris to head east and have a stake in Asia's promise and prosperity. But he added that there were other options outside China and India, like ASEAN. Mr Lee also met French President Jacques Chirac. The two leaders discussed anti-terrorism efforts in Asia and Europe, and cooperation between the two countries. Both of them expressed the desire to deepen ties. Other issues on the agenda were efforts by ASEAN countries to enhance investor confidence