A Guide to Asian High Yield Bonds (eBook)

Financing Growth Enterprises

Florian H. A. Schmidt, Sharon Tay (Autoren)

eBook Download: PDF

2013 | 2. Auflage
480 Seiten
John Wiley & Sons (Verlag)
978-1-118-50203-7 (ISBN)

Infos

An up-to-date, comprehensive analysis of the high-yield bond
market in Asia

Beginning with a general definition of high-yield bond products
and where they reside within the corporate capital structure, this
newly updated guide looks at the development of high-yield bonds in
the United States and Europe before analysing this sector in Asia.
It covers issuer countries and industries, ratings, and size
distributions, and also covers the diversification of the
high-yield issuer universe. It includes a thorough technical
analysis of high-yield bond structures commonly employed in Asian
transactions, including discussion of the respective covenants and
security packages that vary widely across the region. Chapters and
sections new to this edition cover such subjects as high-yield bond
restructuring, the new high-yield "Dim Sum" market, and the
high-yield placement market shutdown of 2008 - 2009. Finally,
the book looks at the new characteristics of Asian economies for
indicators on how the high-yield market will develop there are the
near future.

* Offers an extremely detailed analysis of Asia's high-yield bond
market

* Features new and updated material, including new coverage of
the key differences between Asian structures and United States
structures

* Ideal for CFOs of companies contemplating high-yield issuance,
as well as investment bankers, bank credit analysts, portfolio
managers, and institutional investors

Autor

FLORIAN H. A. SCHMIDT is Managing Director and Head of Debt Capital Markets, Asia, with ING Wholesale Banking, based in Singapore. He has been professionally involved in Asia's debt capital markets for more than twenty years. During that period, he has originated and executed a large number of bond issues across Asia, including several landmark high yield bond offerings. Among these was the Mongolian Mining Corp.'s U.S.$600MM benchmark, the largest ever private sector bond from Mongolia and the first 144a issue from the country (named "Best High Yield Bond 2012" by Asiamoney); Access' US$420MM senior notes, due 2018 "Japan Deal of the Year and Most Innovative Deal 2011" by FinanceAsia; Indika Inti Energi's debut US$250MM senior notes due 2012, (named "Best High Yield Bond 2007" by FinanceAsia); and China Oriental's inaugural US$550MM senior notes, due 2017. Mr. Schmidt was also involved in some prominent Asian high yield bond restructurings, including Davomas and Titan Petrochemicals.

Produkt-Details

• Erscheint lt. Verlag: 3.10.2013
• Reihe/Serie: Wiley Finance Editions
• Reihe/Serie: Wiley Finance Editions
• Sprache: englisch
• Themenwelt: Recht / Steuern ► Wirtschaftsrecht
• Themenwelt: Wirtschaft ► Betriebswirtschaft / Management ► Finanzierung
• Schlagworte: Finance & Investments • Financial products • Finanzprodukte • Finanz- u. Anlagewesen • Internationales Finanzwesen • International finance
• ISBN-10: 1-118-50203-5 / 1118502035
• ISBN-13: 978-1-118-50203-7 / 9781118502037