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Singapore Bonds

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Runifyouhaveto

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Re: Interesting Bond issues

Runifyouhaveto said:
OCBC Plan Dollar Bonds as Weekly Issuance in Asia Trebles
.......... the Singaporean lender is looking to sell subordinated Tier 2 debt
http://www.businessweek.com/news/20...llar-bonds-as-weekly-issuance-in-asia-trebles
Click to expand...

OCBC launched the US$ issue, US$200K per lot, appx 4.5% yield, 10 years.
http://www.netroadshow.com - code OCBCBANK2014
secondary market - only can buy through your bank RM or remisiers. not retail bond, not listed on SGX mainboard.
 
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Runifyouhaveto

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Re: Interesting Bond issues

winnipegjets said:
Junk bonds?

Junk bond etf, HYG, yields 5.8 pct. Why would you want to be tied up for a mere 4.5 pct?
Click to expand...

This is a tier-2 issue. When a company/bank defaults, tier-2 bond holders will be reimbursed before tier-1 bondholders, then ordinary shareholders. I can understand why you think this is like junk bond because of the repectable yield.

A few years ago, DBS, OCBC, UOB preference shares were giving 5-6% (tax-free) yields and my US counterpart exclaimed that such yields were like junk bonds but these are one of the world's safest banks. So he was very very envious of our debt market.

Of course, rates are lower now; the interest rate environment is very favourable for issuers now. There is no way it can get lower so corporations are now happily issuing more bonds to lock-in these favourable rates.
 
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bart12

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Re: Interesting Bond issues

How do you find out the bond price in secondary market after it has been issued? Can't find anywhere that published those prices.
 
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Runifyouhaveto

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Re: Interesting Bond issues

bart12 said:
How do you find out the bond price in secondary market after it has been issued? Can't find anywhere that published those prices.
Click to expand...

singapore don't release secondary market price openly like HK or malaysia
you gotta check with your remisier or bank RM
 
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Runifyouhaveto

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Tuayapeh

Tuayapeh

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Runifyouhaveto

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Re: Interesting Bond issues

Tuayapeh said:
bro on this last point, please explain to the dumbass sinkies here who dont understand wtf happens and what does it mean when the deposits shrink.........

i am out of gold and nett cash (again)....looking to short oil....

thanks
Click to expand...

More rich people in Singapore but our deposits sank for the first time in 11 years = money transferred to buy shares or bonds. I suspect it is bonds because a lot of money channelled into bonds in the last 6 months because something gonna happen.

Eg. during chinese new year 2014 period, OCBC 4% bond in secondary market was about 98.8
Today the price went up to 100.8, $2up within 5-6 months is a strong rally for a safe low-yield investment..

Dear TYP, don't short oil yet. There are a lot of factors, limiting oil's downside at this moment.
 
krafty

krafty

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Re: Interesting Bond issues

what will happen? like what...? can share some insight? thanks, bro run...:o

Runifyouhaveto said:
More rich people in Singapore but our deposits sank for the first time in 11 years = money transferred to buy shares or bonds. I suspect it is bonds because a lot of money channelled into bonds in the last 6 months because something gonna happen.

Dear TYP, don't short oil yet. There are a lot of factors, limiting oil's downside at this moment.
Click to expand...
 
Tuayapeh

Tuayapeh

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Re: Interesting Bond issues

krafty said:
what will happen? like what...? can share some insight? thanks, bro run...:o
Click to expand...

dont short oil yet because the ISIS will wipe Iraq off the face of the fucking map and then progress to start taking apart all their enemies in the middle east.....oil might shoot to 200 a barrel and then you see singapore's service economy fall apart........


what the americans are hoping is that the shiites and the sunnis will have another all out war like the ones they engendered in the 80s between iraq and Iran....but this time much bigger.....





but I hope they will just first go and fuck USA for stirring this shit storm.....



i cant wait to see a US airccraft carrier kena one of those carrier busting missiles that china is selling like hot cakes....... it will bea real laugh...... but then ...that might mean the beginning of the end....and all thanks to the US for all its fucking around....bastards....
 
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Runifyouhaveto

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Re: Interesting Bond issues

Good article.....

Modi's reforms to target bank funding
http://in.reuters.com/article/2014/07/04/indiabonds-idINL1N0OJ07D20140704

Senior bonds are an established source of bank funding worldwide, and the potential for an Indian market is huge. Assuming restrictions are lifted, market participants believe Indian banks could issue at least Rs500bn-Rs600bn (US$8bn-$10bn) of senior bonds in the first year at tenors mainly of 10 to 30 years.

Other market participants said the spread between the senior and subordinated bank bonds might even go up to 50bp-100bp if a proper yield curve is established - as is the case in other, more developed markets elsewhere.

Privately owned lender ICICI Bank has made a few attempts to issue senior bonds onshore. In March 2013, the lender issued Rs11bn of 5.3-year senior bonds paying a coupon of 9.0%, 15bp-20bp tighter than its subordinated bonds at the time.




Related post: A BULL in INDIA
http://sammyboy.com/showthread.php?182173-A-BULL-in-INDIA



market whisper............a local bank might be issuing USD bonds this month (usually larger 250K denominations for USD)
 
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lifeafter41

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Re: Interesting Bond issues

Runifyouhaveto said:
Good article.....

Modi's reforms to target bank funding
http://in.reuters.com/article/2014/07/04/indiabonds-idINL1N0OJ07D20140704

Senior bonds are an established source of bank funding worldwide, and the potential for an Indian market is huge. Assuming restrictions are lifted, market participants believe Indian banks could issue at least Rs500bn-Rs600bn (US$8bn-$10bn) of senior bonds in the first year at tenors mainly of 10 to 30 years.

Other market participants said the spread between the senior and subordinated bank bonds might even go up to 50bp-100bp if a proper yield curve is established - as is the case in other, more developed markets elsewhere.

Privately owned lender ICICI Bank has made a few attempts to issue senior bonds onshore. In March 2013, the lender issued Rs11bn of 5.3-year senior bonds paying a coupon of 9.0%, 15bp-20bp tighter than its subordinated bonds at the time.




Related post: A BULL in INDIA
http://sammyboy.com/showthread.php?182173-A-BULL-in-INDIA



market whisper............a local bank might be issuing USD bonds this month (usually larger 250K denominations for USD)
Click to expand...

Local bank issuing usd bond why not sing dollar
 
krafty

krafty

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Re: Interesting Bond issues

may i ask what do you mean?:o

i think i know what you mean...usd bond in s'pore currency, they are expecting US to do well, so it will be higher for USD. if you pay s'pore currency, they won't lose on the exchange rate. so to correct your statement, i think they are selling US bond in s'pore currency.

correct me if i am wrong...

lifeafter41 said:
Local bank issuing usd bond why not sing dollar
Click to expand...
 
Last edited:
L

lifeafter41

Alfrescian (Inf)
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Re: Interesting Bond issues

krafty said:
may i ask what do you mean?:o

i think i know what you mean...usd bond in s'pore currency, they are expecting US to do well, so it will be higher for USD. if you pay s'pore currency, they won't lose on the exchange rate. so to correct your statement, i think they are selling US bond in s'pore currency.

correct me if i am wrong...
Click to expand...

My thought is local bank issue bond in US$, which means, in order to buy, you will need to convert your S$ to USD in order to buy the bond.

Having said that, when it comes to coupon payment, it will be paid out in USD. The exchange loss is one, but my thought is usd will weaken further, hence when buying, have to take into consideration the exchange loss.

Further more if bond at USD250k per tranche, assuming now rate is usd1 to s$1.24, if 1year later, rate is usd1 to s$1.2, there would be a loss of 3.2%, on paper and couple with original sum to buy the bond, you will need to change your s$ to usd, which will also hit.

Of course, if the fx turns the other way, than it will be good.

I think it's better to buy sing dollar issued bond, no exchange rate loss, if one is looking for steady yield.

Just my two cents worth.
 
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