February 2016 Analysis

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Corporate Financing Analysis - Equity-Linked Deals Return To Asia In 2016 - 29 FEB 2016

Convertible bonds are back in vogue in Asia - at least in the near term anyway. BMI believes that there a combination of both 'push' and 'pull' factors which have catalysed this trend. The 'push' factor lies with the region's largest economy China experiencing a slowdown and equity markets enduring bouts of volatility in early 2016. The result is that issuers in the region are turning towards...

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Corporate Financing Analysis - A False Dawn For Bought Deals In 2016 - 22 FEB 2016

Even though their momentum does not appear to be sustainable, we note that bought deals have been fast out of the blocks in the US arena so far in 2016. According to data provider Dealogic, activity has reached a y-t-d high in the North American nation, with 11 deals being completed, raising a combined USD4.8bn (USD3.2bn of which was sealed in January). This equates to the highest y-t-d haul...

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Corporate Financing Analysis - Covered Bonds Being Embraced In Asia - 08 FEB 2016

Covered bonds are no longer just a European story, the market for such fixed-income securities backed by an asset pool are growing in popularity in Asia too. The latest reminder of the emerging expansion of the covered bond brand came on January 28 when South Korea's largest consumer lender Kookmin issued Asia's first covered bond of 2016. What is more, the deal marked the bank's second tapping...

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