The issuance size of US dollar bonds in Asia decreased
With the hawkish stance of the Fed after FOMC, the primary Asia bond market saw no new issuances of US dollar bonds on Friday (9/22). Over the past week, the new US dollar bonds in Asia (ex Japan) with a minimum size of $100 million decreased from around $5.07 billion in the previous week to about $2.09 billion. Among these, ESG bonds, such as LGENSO and INDKOR, were well-received by investors, collecting orders at least twice their issuance size. In the secondary market, the selling pressure on Asian sovereign bonds post FOMC did not persist, with long end outperforming. LGENSO continued to attract real money inflows. HRINTH’s prices rose following the announcement of further buybacks.
Important news
• According to two recent announcements submitted to the Hong Kong Stock Exchange, China Huarong International Holdings Limited has repurchased some of its bonds issued overseas in the open market. The company would continue to monitor market conditions for further buybacks. China Huarong International Holdings Limited is the overseas wholly-owned subsidiary and major offshore operating arm of China Huarong Asset Management Co., Ltd.
Secondary market
• INDON 2033 bonds traded near 5.38%, and 2053 bonds traded around 5.84%
• PHILIP 2033 bonds traded near 5.36%, and 2048 bonds traded around 5.80%
• LGENSO 2026 bonds traded near 5.83%, and 2028 bonds traded around 5.73%
• HRINTH 2025 bonds traded near 9.80%, and 2027 bonds traded around 8.88%
亞洲地區美元券之發行量下降
受聯準會本週利率決議後的鷹派立場影響,週五(9/22)亞洲債市的初級市場無美元新券發行。累計過去一週發行量超過1億美元之交易,亞洲(除日本外)的美元計價債券發行量由前一週約50.7億美元減少至約20.9億美元,其中以LG能源、韓國產業銀行新發之ESG債券較受投資人青睞,訂單超過其發行量的兩倍。次級市場方面,聯準會利率決議會後對亞洲地區的主權債的賣壓並未持續,且以長券表現較佳。LG能源新券發行後則持續有亞洲地區的實質資金買入。因再度發布回購債券的利好消息影響,中國華融國際的債券價格回升。
重要新聞
• 據近期提交予香港交易所的兩份公告,中國華融國際控股有限公司已在公開市場上持續買回部分於境外發行之債券。公司表示將監控市場狀況,並可能進一步買回所發行之債券。中國華融國際控股有限公司為中國華融資產管理股份有限公司的海外全資子公司與境外運營的主要分支機構。
次級市場
• 印尼(INDON)2033年券收益率約5.38%,2053年券收益率約5.84%。
• 菲律賓(PHILIP)2033年券收益率約5.36%,2048年券收益率約5.80%。
• LG能源(LGENSO)2026年券收益率約5.83%,2028年券收益率約5.73%。
• 中國華融國際(HRINTH)2025年券收益率約9.80%,2027年券收益率約8.88%。