Real Estate and yield beat basmati rice....details on IV.
**** Two Single B rated Asian issuers received very different responses to their high-yield bonds last week, underlining both the allure of a high coupon and investors’ reluctance to embrace untested sectors. ****
Star great article, and thanks for posting that, and really all that stuff on IV. All relevant and stuff I was not finding myself. Prices in New York, slowness of local govts in China to implement, prices still rising, and Vanke solid earnings all point to good results in a couple of weeks.
What did you think of this part? "The debut issuer also sweetened the deal with a 50-cent rebate to private banks,". Does this mean that XIN is basically paying 13.75% on the portion the banks picked up???
Really liked this: " the bonds were quoted at 101.75/101.50 the day after pricing". That means more people would have bought in at that price.. Probably could have done $500M if needed. I guess it just bodes well for the future and is a sign that all these big banks doing DD think XIN is worth a shot.