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For the full pdf version, click Snapshot - Valuation Overview of 3Q2017 APAC USD issuances


Snapshot - Valuations of APAC USD bonds issued in 2Q2017

** Highlights of the Report**

  • Valuations of notable APAC USD bond issuances in 3Q2017 shows largely good outperformance across the board although the clear outlier are issuances from South Korean names, which have generally underperformed at the end of the third quarter
  • 3Q2017 saw the highest quarterly APAC USD bond issuance volume YTD at USD126.378bn, 26.97% more than 2Q2017's volume and edging it over 1Q2017 issuance by about 3.4%
  • Corporate IG Senior new issues in 3Q2017 have largely outperformed with spreads tightening across the board save for the South Korean IG issuances
  • Corporate HY Senior new issuance also performed well with only the Hong Kong high yield issuance underperforming slightly
  • 3Q2017 Financials IG Senior issuance performed well although their outperformance was a little more subdued than the Corporates
  • There were just a handful of new issuances within Financials IG Subordinated & below and HY Senior & above groups with most seeing rather underwhelming performance
  • New SSAs/SOEs USD issuances saw strong performance in general except for the Korean issues. China and Indonesia issuances saw particularly strong performance

Charts

  • Country breakdowns for Corporates IG & HY
  • Country breakdowns for Financials IG & HY
  • Country breakdowns for SSAs/SOEs IG & HY
  • 2017 YTD issuance volume per country (as of end September)

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