Author Archive

New SGD Issue: BNP 10NC5 Tier 2 at 4.5%

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Here are the details of the deal: Issuer: BNP Paribas SA Subordinated notes Issuer ratings: A1/A+/A+ Expected issue rating: Baa2/BBB/A Optional redemption: Issuer may redeem notes at par upon the occurrence of a… Continue reading

USD New Bond Issue: CITIC ENVIROTECH USD SENIOR PERP-NC-3YR at 5.75%

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This is the issuer’s debut USD bond. Here are the details of the deal: ** NEW ISSUE: CITIC ENVIROTECH USD SENIOR PERP-NC-3Y – TERMS ** Issuer: CITIC Envirotech Ltd. (“Company”) Issue: Perpetual Securities… Continue reading

Markets And Liquidity – Alienation, Fragmentation and Futility

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This post was written a week ago for http://www.hnworth.com, a site targeting high net worth individuals in Singapore. Have fun reading… ********************************   “You will never get out of life alive”, a quote… Continue reading

SGD NEW BOND ISSUE : Lippo Malls 3 Year at 4.50%

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NOTE : PRICE GUIDE UPDATED ! **********************************   Barely a month has passed since the Trikomsel saga. Is the SGD bond market ready for a new issue from an Indonesian credit? Here are… Continue reading

JULIUS BAER GROUP SGD AT1

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– Initial price thoughts low-mid 6% for a PerpNC5 AT1 – Strong interest received so far – Timing Wednesday at the earliest Thoughts: So after more than 2 weeks has passed since the… Continue reading

China, Shaken But Not Stirred

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This post was written a week ago for http://www.hnworth.com, a site targeting high net worth individuals in Singapore. Have fun reading… ********************************   Reading through a report on China with great alacrity and… Continue reading

The Unfair Upper Hand Of The Chinese Yuan

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The Chinese yuan and their 6 rate cuts this year including 1 devaluation is still errr, the 5th best performing currency in the world of trade-able currencies this year against the mighty USD… Continue reading

Oxley 4-Year Retail Bond at 5%

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So yet another retail bond hits the market this week. Oxley Holdings, for sure, is not an unfamiliar name in the corporate bond market, at least for private banking clients. They have 4… Continue reading

The Social Media Investment Lesson From Ashley Madison

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This post was written a week ago for http://www.hnworth.com, a site targeting high net worth individuals in Singapore. Have fun reading… ******************************** Warren Buffet said he would not invest in anything he did… Continue reading

SGD WEEKLY : Through the Looking Glass and the 2016 Auctions

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Some crazy short end moves following last week’s SOR and SIBOR divergence as we had pointed out : “Sibor rarely exceeds SOR given the opportunity for arbitrage by parties who would stripe out… Continue reading