
Tan Chu Ren

Bond Market Monitor: Bank of England pulls off shocker

ARA Asset Management: Consent the change concerning change of control conditions?
Bondholders should consent to the change due to a lack of better alternatives, and of course, for the early consent fees.

Cathay Pacific still navigating through dark clouds
Cathay will likely see a slight rebound in 2H21 but strict travel restrictions in Hong Kong may still hamper its recovery. However, default risk is still low and investors can consider their bonds.

Bond Market Monitor: MAS tightens monetary policy

GuocoLand launches new 5Y bond at 3.5% IPG
At an initial price guidance of 3.5%, GuocoLand’s new bonds look relatively attractive.

Tuan Sing launches new 3NC2 SGD bond at a FPG of 6.90%
Tuan Sing has announced a 3NC2 bond at a final price guidance of 6.90% to finance the tender offer of their existing 2022 bonds.

Bond Market Monitor: Fed prepares to taper

Should you fear the taper?
Taper tantrum is unlikely to happen again this time, but even if it should, investors should not let it derail their investing plans. However, investors should still be aware of Evergrande contagion and slowing growth concerns

Frasers Property launches 7Y SGD sustainability bonds at 3.25% IPG
Frasers Property Limited continues to venture into the ESG bonds space, but there are more attractive plain vanilla bonds out there.

Julius Baer’s new NC7 perps looking good at IPG of 4.25%
Julius Baer is offering a new USD AT1 at an IPG of 4.25%. The article explores other investments, including the BAERVX 4.750% Perpetual Corp (USD).