• Tue
  • Dec 23, 2014
  • Updated: 8:29am

Bonds

Chaori bondholders have slim chance of getting money back

Chaori has reported a net loss for three consecutive years. Photo: AFP

Mainland investors caught out by the country's first default of a domestic bond face obstacles to ever recovering any funds from the solar equipment maker.

Friday, 14 March, 2014, 4:30am

Retail slice of yuan bonds in Hong Kong slashed

Woody Chan, executive vice-president and treasurer at China Citic Bank International. Photo: May Tse

The Ministry of Finance said it plans to issue 23 billion yuan (HK$28.9 billion) of offshore yuan bonds in Hong Kong in two batches this year. The total issue size remains the same as last year but the amount available for the public has been slashed to 3 billion yuan from 5.5 billion yuan last year.

10 Jun 2013 - 5:03am

BOJ split on measures to stabilise bond market

The BOJ board opens its meeting on Monday. Photo: Bloomberg

The Bank of Japan is divided over whether to authorise a measure designed to quell bond-market volatility, with some officials concerned it would return the BOJ to a pattern of incremental steps that failed in the past, say people familiar with the discussions.

7 Jun 2013 - 3:46am

China remains world's No 1 holder of US debt

China remains the largest foreign creditor to America in March. Photo: AFP

China retained its lead over Japan as the largest foreign creditor to America in March, US Treasury Department data shows.

17 May 2013 - 4:06am

Debt fears dog solar power suppliers

Chinese solar firms have US$5.3 billion of notes due next year.

Renewable energy companies from the mainland and Hong Kong need to repay US$3.5 billion of debt this year, prompting global investors to fret that another issuer will follow Suntech Power into default.

15 May 2013 - 5:58am

Yield demand deters dim sum debt issuers

Many companies are keeping their yuan for trade settlement.

The cost of funding the so-called dim sum bonds has risen as the swap rates between the yuan and the US dollar are at record lows, tempering the pace of investment-grade corporate bond issues by foreign issuers, industry experts said at a forum yesterday.

9 May 2013 - 5:15am

Beijing urged to reform debt market

Frank Gong says reform of regulations is needed to boost the market's efficiency. Photo: Nora Tam

As mainland companies face growing difficulty getting credit from domestic banks or raising capital on the stock market, they are left to securing funds through large, long-term bond issues, says a top banker.

22 Apr 2013 - 2:50am

Suntech Power in talks with Wuxi government on bailout

Shi Zhengrong, chairman of Suntech Power Holdings. Photo: Bloomberg

Suntech Power, the mainland solar-panel maker with US$541 million in bonds due next month, is talking with the government of Wuxi about the possibility of financial support.

28 Feb 2013 - 5:02am

Under-fire McGraw-Hill builds war chest

McGraw-Hill restructures to raise cash while it faces US$5 billion in fines. Photo: Reuters

McGraw-Hill, which faces US$5 billion in fines for allegedly misleading bondholders, is fortifying its own investors with US$1.4 billion in net cash and what may be the fastest profit growth since 2007.

14 Feb 2013 - 4:53am

Standard & Poor's looks secure despite US government lawsuit

Standard & Poor's faces a US$5 billion charge for allegedly deliberately understating the risk of bonds backed by mortgages. Photo: Reuters

The Department of Justice accuses McGraw-Hill and its subsidiary Standard & Poor's of deliberately understating the risk of bonds backed by mortgages made to the riskiest borrowers, in order to win business from Wall Street banks.

7 Feb 2013 - 5:16am

Asset managers calm worries over junk bonds

Sean Chang of Baring Asset Management said he would encourage investors to buy junk bonds, especially in the property sector.

The recent debt issues by mainland developers in Hong Kong will not result in excessive supply and investors should still consider these high-yield bonds as an attractive asset class this year, asset management firms say.

18 Jan 2013 - 5:27am

Business Digest, January 17, 2013

HKMA announces senior appointments.

The European Union will not be drawn into a trade war with China, EU ambassador to Beijing Markus Ederer insisted, a day after trade sources said the European Commission found China illegally subsidises its steel producers. 

17 Jan 2013 - 4:19am

Relaunch of bond futures trading in sight

CSRC chairman Guo Shuqing is seen as a reformer.

Beijing is preparing to officially launch government bond futures after a successful simulated-trading experiment, in a move towards liberalising the interest-rate mechanism.

17 Jan 2013 - 4:22am

Briefs, January 6, 2013

The PLA air force yesterday said no Myanmese jets had entered Chinese territory during raids on Kachin rebels.

6 Jan 2013 - 4:46am

The Week Explained: Lessons learned from 2012

Gold bar. Phoot: Reuters

It has been a turbulent year for investors, but there are lessons to be gleaned from it. Here's a sample of what 2012 has taught us.

31 Dec 2012 - 4:58am

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