The Love Affair With Cheap Oil
It is mighty apt to be writing about oil as we close the week near 6 year lows in prices as OPEC decided, against market expectations to continue producing as much as… Continue reading
TML Holdings 2018 SGD Bond Tender Offer
Hearing that the company is offering to buy back S$350mm notional of the bonds at 103 plus accrued interest for tender instructions submitted before 21 December. That is a huge premium to the… Continue reading
Real Estate : Sovereign Wealth Funds To The Rescue ?
PHOTO COURTESY OF WILDLIFE PHOTOGRAPHER, SIMON GOODMAN When news broke that the Norges Bank was considering the joint purchase of Asia Square Tower 1 with Capitaland, it was seen as a big… Continue reading
New SGD Issue: BNP 10NC5 Tier 2 at 4.5%
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
Bond Market Thoughts : The Royals, The Bad And The Ugly
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 cannot help but read with great amusement that Singapore’s GIC… Continue reading
Looking at Uranium
The uranium sector was hit hard in the aftermath of the 2008 Financial Crisis, then came another crisis in 2011, when a massive earthquake damaged nuclear facilities in Japan. That caused another big… Continue reading
USD New Bond Issue: CITIC ENVIROTECH USD SENIOR PERP-NC-3YR at 5.75%
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
Ad Hoc Commentary – Yellen and the hike that is not supposed to be a hike
As we look into the initial rate hike, it becomes clearer that Yellen honeymoon had ended: “…If the Fed does not move by December, then probably the phrase lame duck is going to… Continue reading
Markets And Liquidity – Alienation, Fragmentation and Futility
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
Ad Hoc Commentary – financing the sustainable development goals
byThe sustainable development goals (SDGs) agreed by world leaders in Sep 2015 are ambitious. It comes with a hefty price tag, and experts caution that the funding shortfall could be as large as… Continue reading →