Wong Di Ming

Research Analyst, Bond Research

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Idea of the Week – Here’s another UK bank looking great Bonds

Idea of the Week – Here’s another UK bank looking great

FY24 has been great for Barclays, with still-elevated interest rates and strong market activity driving the banking business. At the same time, we see good bond options from Barclays that might be attractive to investors.

By Wong Di Ming | 15 Apr 2025 |1869 Views
BarclaysBanks
Quick Commentary on ESR’s FY24 Results Bonds

Quick Commentary on ESR’s FY24 Results

ESR might see losses for FY24, but the issuer remains stable in our view. Among the three perpetual securities, we continue to prefer ESRCAY 5.65% as it will be the first to be called.

By Wong Di Ming | 28 Mar 2025 |865 Views
CORPFINSESR GroupHYCORP
Perennial Holdings announces SGD 3Y senior unsecured notes at FPG of 5.75% Bond Issues

Perennial Holdings announces SGD 3Y senior unsecured notes at FPG of 5.75%

Perennial Holdings intends to issue an SGD 3Y senior unsecured notes at the final price guidance of 5.75%. We include a quick review of its FY24 performance and an opinion of the new issuance below.

By Wong Di Ming | 27 Mar 2025 |1445 Views
New Issue ViewPerennial Holdings
The Credit Cheatsheet – No better deal than this Astrea USD paper Bonds

The Credit Cheatsheet – No better deal than this Astrea USD paper

Our Credit Cheatsheet summarises the most important news in bond markets over the past weeks and some of our top picks! Most central banks are now keeping a close watch on the evolving trade policies, with the uncertainty posing significant risks to most economies. Meanwhile, Astrea VI Class A-2 USD paper has been fully reserved and offers a highly attractive ~5.1% to call in ~1 year.

By Wong Di Ming | 24 Mar 2025 |727 Views
The Credit Cheatsheet
HSBC announces SGD PerpNC5.5 Additional Tier 1 subordinated notes at IPG of 5.25% Bond Issues

HSBC announces SGD PerpNC5.5 Additional Tier 1 subordinated notes at IPG of 5.25%

HSBC Holdings plc intends to issue new SGD PerpNC5.5 AT1 bonds at the initial price guidance of 5.25%. Here’s our quick review of this new issuance.

By Wong Di Ming | 18 Mar 2025 |2657 Views
New Issue ViewHSBCBanks
Idea of the Week – Another year of record for HSBC Bonds

Idea of the Week – Another year of record for HSBC

HSBC might see yet another record year for its financial performance, but the stellar performance appears mostly priced in. That said, HSBC bonds continue to be a great option for investors to consider.

By Wong Di Ming | 28 Feb 2025 |1232 Views
CORPFINSHSBCBanks
Astrea Investor Day 2025 – USD bond now at 5.6% with an ‘A’ rating?! Bonds

Astrea Investor Day 2025 – USD bond now at 5.6% with an ‘A’ rating?!

With Azalea marking its 10th anniversary this year, we find the Astrea VI and Astrea 7 Class A-2 USD bonds rather attractive at their respective credit ratings.

By Wong Di Ming | 25 Feb 2025 |5520 Views
ABSPEQTAstrea investor dayAzalea
The French bank bonds – opportunities amidst a seeming crisis Bonds

The French bank bonds – opportunities amidst a seeming crisis

With the dust finally settling down in the France political scene, and the release of FY24 financial results by major French banks within our coverage, we assess recent developments, relevant events and what it meant for the French banks.

By Wong Di Ming | 19 Feb 2025 |1528 Views
BanksBNP ParibasGroupe BPCECredit AgricoleSociete Generale
Lendlease Global Commercial REIT announces SGD PerpNC3 subordinated bond at 5.00% IPG Bond Issues

Lendlease Global Commercial REIT announces SGD PerpNC3 subordinated bond at 5.00% IPG

Lendlease Global Commercial REIT intends to issue an SGD NC3 subordinated perpetual security at the initial price guidance of 5.00%. Here is our quick take on this new issuance.

By Wong Di Ming | 19 Feb 2025 |1068 Views
New Issue ViewLendlease Group
New on Bond Express – 5.6% yield to call for this USD Tier 2 from the Bank of New Zealand Bond Issues

New on Bond Express – 5.6% yield to call for this USD Tier 2 from the Bank of New Zealand

We believe this new addition on Bond Express will be an attractive alternative for investors considering USD banking bonds. Read on to find out more!

By Wong Di Ming | 27 Jan 2025 |530 Views
CORPFINSNew Issue ViewBanks