IMF Special Drawing Rights 101 – the all-you-need-to-know guide

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Unless you have been on another planet in the past year, you would have heard of China’s bid for the renminbi (RMB) to be included in the IMF Special Drawing Rights (SDR) basket… Continue reading

Australia Focus : From Meh To Bleh

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The AUDUSD continues to track Mount Everest for the month of May and we are right down to the base camp level now (and I still cannot believe Dark Knight called the high… Continue reading

China Focus : Conspiracy Theory Coming True To Make Suckers Of You

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It is all about the stock market and we said this some months back. “The MSCI World Index is an important benchmark – it covers approximately 85% of the free float-adjusted market capitalization… Continue reading

Bonds In Conversation : What Do We Do With The Drunken Sailor In Mid Year ?

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What shall we do with a drunken sailor, What shall we do with a drunken sailor, What shall we do with a drunken sailor, Early in the morning? It’s mid year, we are… Continue reading

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