The urge to diversify funding sources is taking Aussie borrowers to exotic locations. Commonwealth Bank of Australia has ventured further afield than most in its determination to be “strategically opportunistic”. Hugh Chow reports on its efforts to take the less beaten path and what lies ahead.
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It was an interesting summer for China’s fixed income market. One of the most notable developments came in the short-term bills market as credit events emerged for the first time and major changes were introduced that have brought the market to a higher level of maturity, writes Nethelie Wong.
Like a phoenix from the ashes Dampier Bunbury Pipeline has become one of the more prolific and well received issuers in the bond and loan markets this year. With further expansion already announced, the company is set to continue its love affair with the debt markets well into 2007. Hugh Chow reports.
Indonesia’s return to the international bond markets in 2004 was a great success which saw decent demand. Since then, however, its funding efforts have been mixed: sometimes great, sometimes woeful. The most recent deal proved very popular, so has Indonesia learnt its lessons? Jonathan Rogers reports.
The Tata Group is India’s premier company and has been a household name for decades. But as holding company Tata Sons looks to issue a US$750m syndicated loan at a time when the financial world is in love with India, it is becoming that clear that a name alone might not be enough to push the deal to a successful finish. Savita Iyer reports.
As Taiwan’s largest food manufacturer with over 100 affiliated companies, Uni-President Enterprises Corp and its subsidiaries are regular borrowers in Taiwan’s loan markets. The group has taken advantage of its top-tier status and the compression in loan pricing to meet its fundraising requirements and expects to continue to do so. Cong Cong Tang reports.
Bumiputra Commerce Holdings is undergoing a fundamental transformation thanks to its takeover of Southern Bank and a reorganisation of its structure. But that hasn’t stopped it attempting to raise one of Malaysia’s biggest loans this year. But will the deal’s apparently tight pricing lead to success, asks Hamisah Samad.
Recent times have been benign for Asia’s banks. Liquidity conditions remained untested, demand for domestic credit expanded, local economies grew and defaults became a rarity; banks piled on the assets. At the same time, regulatory changes and benign bond markets released the tools to manage capital more efficiently. Nick Herbert reports.