Asia News

Related Travel Information

ASIA DEBT: West Europe Targets Perpetual Bonds At Asia

ASIA DEBT: West Europe Targets Perpetual Bonds At Asia The trickle of perpetual bonds sold in Asia threatens to become a flood as Western European companies join the Latin American and Eastern European borrowers that dominated the market last year. All the borrowers are tapping into the fast-growing wealth of Asian retail investors, who like the higher yields offered by the bonds, which have no fixed maturity but are usually callable five or 10 years after issuance. Swiss commodity firm Glencore International AG is the latest borrower to tap into this Asian demand. Last Friday, it sold a US$700 million perpetual

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

Indonesia Bonds Post Biggest Drop in Asia on Rising Oil, Rates

Indonesia Bonds Post Biggest Drop in Asia on Rising Oil, Rates Dec. 14 (Bloomberg) -- Indonesia's bonds fell more than any other government debt in Asia this year as the central bank raised interest rates to contain inflation. The $46 billion rupiah-denominated bond market in the world's fourth-most populous nation tumbled as Bank Indonesia increased its benchmark rate to 12.75 percent, the highest in the region. The central bank raised borrowing costs after President Susilo Bambang Yudhoyono removed some price controls on oil, causing inflation to reach a six-year high in November. ``The worst is not over yet and it is