Singapore Bonds

[mmngck]

Re: Interesting Bond issues

Lousy investor do lousy investment.
Market sentisement bad and also this lousy cashflow company. I already warn you guys.

Didn lose money then good enough Liao. Still Wan earn. Haha, what a joke!

 

[mmngck]

Hope that the little money earn enough to cover your broker fee.
Since you paid so much for your chicken fee, this little money I think you also don't mind.

 

[Runifyouhaveto]

If the old perp is below $101, I do think it's a good deal to buy in because you are assured 5.yy% over 2 year period. I will be monitoring the old perp and park my money there once it hit $101

Good call. The old 6% went up a respectable 0.23% today.
I don't own ordinary shares but Hyflux ordinary share also gained 2% today despite a weaker STI.

 

[Runifyouhaveto]

Re: Interesting Bond issues

Apple Inc plans to issue bonds in Taiwan for the first time with the aim of raising US$1 billion, sources familiar with the matter said, joining a queue of big global names that have sold billions of dollars on the island's busy debt market. Market participants have been looking at initial yields of around 4.2 percent to 4.3 percent on the planned Apple bonds, two of the sources said.

http://www.channelnewsasia.com/news/business/international/apple-plans-to-sell-us-1/2835524.html

Taiwan is very successful this year to attract global big-names bond-issuers. Intel also sold almost US$1bio of bonds in Taiwan recently.

 

[krafty]

Re: Interesting Bond issues

Apple Inc plans to issue bonds in Taiwan for the first time with the aim of raising US$1 billion, sources familiar with the matter said, joining a queue of big global names that have sold billions of dollars on the island's busy debt market. Market participants have been looking at initial yields of around 4.2 percent to 4.3 percent on the planned Apple bonds, two of the sources said.

http://www.channelnewsasia.com/news/business/international/apple-plans-to-sell-us-1/2835524.html

Taiwan is very successful this year to attract global big-names bond-issuers. Intel also sold almost US$1bio of bonds in Taiwan recently.

ah run, why they choose qingdao and not pap governed city state???

 

[Runifyouhaveto]

Re: Interesting Bond issues

ah run, why they choose qingdao and not pap governed city state???

u mean, bao dao?

 

[krafty]

Re: Interesting Bond issues

u mean, bao dao?

correct...correct! paiseh...:o

 

[Runifyouhaveto]

Re: Interesting Bond issues

correct...correct! paiseh...:o

Yes bro, kinda surprise that the Taiwanese managed to do so well.

 

[krafty]

Re: Interesting Bond issues

Yes bro, kinda surprise that the Taiwanese managed to do so well.

many taiwanese also come to OZ. i know few who are working and holidaying here. the market in taiwan not good at all compared to their last glory in the 70s' and 80's.

 

[Runifyouhaveto]

Re: Interesting Bond issues

Apple considering bond issue in Singapore after Taiwan and Australia.

http://www.wsj.com/articles/apple-p...rom-bond-sales-in-taiwan-australia-1464854456

 

[Runifyouhaveto]

Re: Interesting Bond issues

Noble Group Bonds Surge by Record After $500 Million Cash Call
http://www.bloomberg.com/news/artic...s-surge-by-record-after-500-million-cash-call

“The rights issue is a big surprise at such a dilutive discount, and more so with CIC willing to share the pain,” said Leong Wai Hoong, a senior money manager in Singapore at Nikko Asset Management Asia Ltd. “The company is inflicting pain on equity holders, which is good news for credit investors.” Noble bonds are rallying as investors continue to cover their short bets, Leong said.

 

[krafty]

Re: Interesting Bond issues

Apple considering bond issue in Singapore after Taiwan and Australia.

http://www.wsj.com/articles/apple-p...rom-bond-sales-in-taiwan-australia-1464854456

apple so cash rich also got debt, need funds??? how does it work?

 

[bart12]

Re: Interesting Bond issues

http://www.businesstimes.com.sg/gov...-fund-could-be-pe-ticket-for-retail-investors

New bonds by Temasek fund could be PE ticket for retail investors
The bonds will be in four classes distinguished by seniority and maturity; one of these could become a testbed for a private-equity retail offering

JUN 7, 20165:50 AM
Singapore

A TEMASEK Holdings-owned fund of private-equity funds is offering a new kind of bond that could eventually grant retail investors access to the asset class.

The approximately US$500 million of fixed-rate Singapore-listed bonds will be issued by Astrea III, a US$1.1 billion fund of 34 private equity funds. Bond-holders will contribute about 45 per cent of the fund's assets, with the remaining 55 per cent in equity coming from Azalea Asset Management, an entity of Temasek, a Singapore government-owned investment company. The fund is being marketed to institutional and accredited investors.

The offering tries to broaden access by creating different classes of investors in the fund. By giving some investors preference in terms of default seniority and maturity date - and by subordinating Temasek, the equity investor - the bonds help to carve out a safe-enough product that can be bought by smaller investors.



The offering will comprise bonds in four classes distinguished by seniority and maturity:

The safest is a S$234 million bloc of Class A-1 bonds that are expected to be rated "A" and are expected to be redeemed by Year 3, provided the issuer has enough cash.

The second is a US$170 million bloc of Class A-2 bonds, also expected to be rated "A", but expected to be redeemed in Year 5, provided there is enough cash.

The Class A-1 and A-2 bonds have a final maturity of 10 years if they are not redeemed earlier.

There will also be US$100 million of 10-year, Class B bonds, expected to be rated "BBB", and finally, US$70 million of 10-year unrated Class C bonds. The Class B and C bonds may be redeemed early, but only after the Class A bonds have been fully repaid.

The Business Times understands that the Singapore dollar-denominated Class A-1 bonds, in particular, are seen as a testbed for a possible private-equity retail offering in Singapore down the road.

A spokesman for Azalea Asset Management, set up in 2015 to develop investment products based on private-equity funds for a wider range of investors, declined to comment, citing regulatory restrictions against marketing to the general public.

The deal, which is run by Credit Suisse and DBS Bank, is being marketed over the next month with issuance targeted in July.

The relatively long marketing period is understood to be a reflection of the uniqueness of the product, which is believed to be the first of its kind and will therefore require more time for investors to figure out how to price.

Private-equity funds are higher-risk products with high barriers to entry for investors. But Astrea III seeks to work around that in a number of ways.

The first is by being an investor in a large number of funds run by reputable general partners such as Blackstone, KKR, TPG and Warburg Pincus. The 34 funds in the portfolio hold stakes in more than 590 companies across a range of sectors, reducing the exposure that investors into Astrea have to failure in any single fund.

About 77 per cent of the funds are buyout funds, and the total portfolio has a weighted average vintage of seven years, which means that the assets are relatively mature and close to being cash generative as the underlying funds begin to make their exits.

That also reduces the credit risk for the fund, and provides confidence about cash flow for the bonds to maintain coupons and redemptions.

By structuring the product as bonds, Astrea also provides an additional layer of protection for bondholders, who rank above the equity partners in case of default.

Aberdeen Asset Management business development director Nicholas Hadow said the Temasek fund was capturing strong demand for alternative investments at the moment.

"They're tapping into a range of demand. You'd think this would be picked up by the private banks ... It's a market widening structure," he said.

 

[johnny333]

Re: Interesting Bond issues

apple so cash rich also got debt, need funds??? how does it work?

Apple has about $223 billion. Most of it is kept offshore. Apple cannot repatriate the $ they made outside the US, otherwise they will be hit with a large US tax bill.

So they have been selling bonds to generate the $ to be able to pay for dividens & do stock buy backs .

 

[johnny333]

Re: Interesting Bond issues

http://forums.appleinsider.com/discussion/193464/

Apple reportedly raises up to $1.2B in first Taiwanese bond

As rumored last week, Apple on Monday reportedly completed a U.S. dollar denominated bond issuance in Taiwan estimated to have raised up to $1.2 billion.

Citing sources familiar with the matter, Reuters reports Apple's first Taiwan bond is a 30-year debt issuance raising between $1 billion and $1.2 billion with a yield of 4.15 percent, though the figures have not been finalized. The bond is callable after the second year, these people said.

Today's report lines up with rumblings last week that claimed Apple was preparing its first ever issue of debt in Taiwan, as well as a forthcoming offering in Australia that has yet to be confirmed. Apple was previously forecast to target between $800 million to $1.2 billion, and a yield of approximately 4.2 percent.

With a growing offshore cash pile, Apple has increasingly turned to debt markets in a bid to finance its capital return program, which was recently boosted to $250 billion after a $50 billion expansion was announced in April. Apple plans to mete out returns by 2018.

Apple recently issued euro-denominated debt totaling $2.25 billion in September, while bonds of similar value were sold in Japanese yen, Swiss francs, British pounds and Australian dollars over the course of 2015.

In March the company marked a return to the U.S. debt market with a massive three-part, $3.5 billion bond tacked on to a sale dating back to in February.

 

[krafty]

Re: Interesting Bond issues

Apple has about $223 billion. Most of it is kept offshore. Apple cannot repatriate the $ they made outside the US, otherwise they will be hit with a large US tax bill.

So they have been selling bonds to generate the $ to be able to pay for dividens & do stock buy backs .

so des ne...

thanks uncle jon for the info.

cheers!

 

[Runifyouhaveto]

Re: Interesting Bond issues

so des ne...

thanks uncle jon for the info.

cheers!

Yes, Mr Johnny is streetsmart and sharp

 

[Runifyouhaveto]

Re: Interesting Bond issues

safest is a S$234 million bloc of Class A-1 bonds that are expected to be rated "A" and are expected to be redeemed by Year 3, provided the issuer has enough cash.

The second is a US$170 million bloc of Class A-2 bonds, also expected to be rated "A", but expected to be redeemed in Year 5, provided there is enough cash.

The Class A-1 and A-2 bonds have a final maturity of 10 years if they are not redeemed earlier.

There will also be US$100 million of 10-year, Class B bonds, expected to be rated "BBB", and finally, US$70 million of 10-year unrated Class C bonds. The Class B and C bonds may be redeemed early, but only after the Class A bonds have been fully repaid.

The Business Times understands that the Singapore dollar-denominated Class A-1 bonds, in particular, are seen as a testbed for a possible private-equity retail offering in Singapore down the road.

Good sharing bart,
I have no knowledge with local USD bonds.

It would be interesting to see if the above-mentioned Temasek-linked SGD (not Temasek-backed) 10Y, NC3 retail bonds will offer a respectable yield of at least 3.25%pa, taking clue from current retail CapitaLand and FCL bonds.

 

[johnny333]

Re: Interesting Bond issues

Yes, Mr Johnny is streetsmart and sharp

Have to be careful & conservative in investing because I don't have a job to fall back on. Not that I'm looking for one

I'm sure there are many out there who are are doing better than me, but I can't really complain because I have enough $ to pay all my bills.

 

[Runifyouhaveto]

Re: Interesting Bond issues

Have to be careful & conservative in investing because I don't have a job to fall back on. Not that I'm looking for one

I'm sure there are many out there who are are doing better than me, but I can't really complain because I have enough $ to pay all my bills.

Yes, this world is not about taking reckless risks into order to be No.1,
for we cannot restart like a computer game after going bust.

You have a good night, Sir.