Singapore
A SLUMP in South-east Asian long-term bond sales to around a third of 2012's total is frustrating insurers who need such assets to offset their liabilities.
Issuance of debt by companies in the region due in 20 years or more is at US$4.2 billion so far this year, compared with full-year totals of US$3.5 billion in 2013 and US$12.3 billion the year before, data compiled by Bloomberg shows. There's a shortage of notes due in 20 to 30 years, according to AIA Group Ltd, the second-largest Asia-based insurer.
Offerings have dried up as the prospect of higher US borrowing costs prompts investors to demand wider yield premiums, according to the Asian Development Bank (ADB). The assets of listed...
Keyword added to your list