A lot of water has passed under the bridge since the Asian financial crisis 15 years ago, and although there is still plenty of work to be done, the region has made spectacular progress. The current turmoil in Europe has left Asia looking like a safe bet.
Asian convertible bonds are starting to look decidedly sexy again. Three deals priced this week but more noteworthy than the volumes is the comparatively aggressive structures on display.
Everyone who banks India is talking about the US$22bn refinancing challenge the country’s issuers are facing this year but while that headline number looks intimidating, the real risk lies in the US$16bn of that total tha