Hey Singapore, Have You Thought Of This ? … And CDL New Issue Review
Qatari Emir Buys Six Greek Islands For $11 Million
Cheap and good solution to our housing problem. Build retirement villages there !
City Development Limited 5Y 2.45%. How uninteresting till you check its dividend yield which is a deflationary 1.14%, and hardly anything to even blink about.
Lord knows why they need the money too with SGD 2 bio of cash sitting in their books, which 50-100 mio of new bonds will be a rounding error.
So we can only conclude that they want the money because it is cheap and it will be the lowest coupon they have paid for 5 years for a while.
Why not buy a couple of dozen of those Greek islands and do something good with it ?
Rumour Mill : Rumours another round of cooling measure might coming this Saturday from MAS to correct the SG property price. LTV might be reduced.
seriously….
for the past 4 years, they sat around doing nothing (much). and suddenly they are extremely hawkish. aren’t we near the peak in the cycle????
I think it’s due to election results all around the world.
Ay thoughts on PCCW new USD offering? I heard its massively oversubscribed at 4% indicative coupon.
I asked the expert and this is what he says.
Sounds expensive because the 2016 is coming at Libor+140 vs the new ones at Libor+185.
The holding company 2022 paper is going higher at Libor+250 (operating co is better than holding co).