Category Archive: Market

USD New Issue : Peking University Founder Group 3Y 5.75%

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Issuer: Dawn Victor Limited (旭勝有限公司) (the“Issuer”) Guarantor: Founder Information (Hong Kong) Limited (the “Guarantor”) Keepwell Deed and Deed of Equity Interest Undertaking Provider: Peking University Founder Group Company   Limited (the “Company”) Issue :  U.S.$… Continue reading →

SGD New Issue Review : Banyan Tree 5Y 5%

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Issuer: Banyan Tree Holdings Ltd. Reg S, unrated CIMB, HSBC Last looked at them last year when they came for a 5 year bond at 5% exactly 1 year ago today on the… Continue reading →

PRIMARY CREDIT WATCH

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YESTERDAY Garuda Global Sukuk  USD 500mio 5.95% 06/2020 priced at 99.256 6.125% CIFI Holdings Group (B1/BB-) USD 400mio 5NC3 7.75% 06/2020 priced at 99.491 7.875% Fantasia Holdings (B3/B) USD 200mio11.5%  06/2018 priced at… Continue reading →

Economic Lifeboats : Ask Yourselves, Are You Spending ?

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In memory of John Nash, inspiration for the film, A Beautiful Mind, who passed away in a car accident with his wife last Saturday. Game theory and economics have gone hand in hand… Continue reading →

SGD New Issue : Guocoland 3.25Y 3.4%

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GUOCOLAND SG$ 3.25YR – Final Price Guidance: 3.40% (initial price 3.65%) – Orderbook c.$100m – Issue Size: Expect SG$75m – Timing: Books subject, today’s business

SGD NEW ISSUE REVIEW : CENTURY SUNSHINE 3YNC2 7.25%

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Issuer: Century Sunshine Group Holdings Guarantors: In accordance with program Reg S, not rated OCBC Century Sunshine Group Holdings Limited (509 HK) is involved in the business of research and development, production, and… Continue reading →

Singapore Rates Weekly : A Little SOR-e

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USD LIBOR 1M 0.18485 3M  0.2845 6M 0.41865 SINGAPORE ECONOMIC DATA Apr CPI -0.6% MoM (exp -0.1%) Apr CPI -0.5% YoY (exp 0%) Apr Core CPI 0.4% (exp 0.7%) 1Q15 GDP 3.2% QoQ… Continue reading →

SGD New Issue Review : ASCENDAS REIT SGD 7YR 3.375%

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NEW ISSUE: ASCENDAS REIT SGD 7YR – IPG 3.375% Issuer:   HSBC Institutional Trust Services (Singapore) Limited (in its capacity as trustee of A-REIT) Status:  Senior, unsecured, off SGD5 bio Multicurrency Medium                          Term Note… Continue reading →

SGD NEW ISSUE REVIEW : FIRST SPONSOR GROUP LIMITED 3Y LOW 4%

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FIRST SPONSOR GROUP LIMITED  SGD 3Y –  First Sponsor Group Ltd announced new 3y SGD, driven by reverse enquiries post roadshow –  Initial price guidance: low 4% –  Timing: As early as today… Continue reading →

The Thin Red Line Of Foreign Exchange Rigging

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This post was written for www.hnworth.com, a site targeting high net worth individuals in Singapore. Have fun reading ! ******************************** The first thing that strikes anyone visiting a dealing room for the first time… Continue reading →