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Dim Sum Bonds : the Offshore Renminbi (RMB)-Denominated Bonds.
A comprehensive guide to understanding and assimilating into dim sum bond markets The expansive growth of the dim sum bond market in the last five years has peaked investor interest and inspired companies to seek out investing opportunities that negate China's capital controls. In a four-pronge...
| Clasificación: | Libro Electrónico |
|---|---|
| Autor principal: | |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
Wiley,
2013.
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| Temas: | |
| Acceso en línea: | Texto completo |
Tabla de Contenidos:
- Dim Sum Bonds; Contents; Preface; Acknowledgments; Acronyms and Key Terms; Chapter 1 New Market-Developments, Opportunities, and Challenges; 1.1 Introduction; 1.2 Overview of the Dim Sum Bond Market; 1.3 Policies Supporting the Growth of Offshore Renminbi; 1.3.1 Trade Settlement in RMB and RMB Bilateral Local Currency Swap Agreements; 1.3.2 Offshore RMB Currency Trading; 1.3.3 Offshore RMB Deposit Center; 1.3.4 Implications for the Dim Sum Bond Market: Opportunities and Challenges; References; Chapter 2 Offshore RMB-Denominated Bonds-Dim Sum Bonds; 2.1 Definition; 2.1.1 Dim Sum Bonds.
- 2.1.2 Synthetic RMB Bonds2.2 Bond Issue Characteristics; 2.2.1 Type; 2.2.2 Form: Regulation S; 2.2.3 Bond Coupon; 2.2.4 Bond Tenor; 2.2.5 Credit Rating; 2.2.6 Collateral and Claim Priority; 2.2.7 Bond Covenants; 2.2.8 Exchange Listing; 2.3 Conclusion; References; Chapter 3 Issuers; 3.1 Issuers; 3.2 Classification of Issuers by Type of Organization; 3.2.1 Government (Sovereign and Subsovereign); 3.2.2 Banks; 3.2.3 China's State-Owned Enterprises (SOEs); 3.2.4 Corporations; 3.2.5 Supranational Agencies; 3.3 Classification of Issuers by Industry.
- 3.4 Classification of Issuers by Domicile and by Deal Nationality3.5 Motivations behind Issuers; 3.5.1 Supporting the Government's RMB Policy; 3.5.2 Cross-Border Funding Arbitrage; 3.5.3 Hedging against Currency Risk; 3.5.4 Lower Cost of Debt; 3.5.5 Supporting Client Needs; 3.6 Conclusion; References; Chapter 4 Investors; 4.1 Investor Type and Mix; 4.2 Motivation; 4.2.1 Expected Currency Appreciation and Yield; 4.2.2 Liquidity; 4.2.3 Diversification; 4.3 Risk/Return Analysis; 4.3.1 Historical Performance; 4.3.2 Risks; 4.4 Conclusion; References.
- Chapter 5 Investment Banks and the Dim Sum Bond Issuing Process5.1 Dim Sum Bond Issuing Process; 5.1.1 Rationale for Dim Sum Bonds: Issuer and Investor Perspectives; 5.2 Primary Issues; 5.2.1 Documentation/due diligence; 5.2.2 Premarketing Campaign; 5.2.3 Roadshow/Marketing; 5.2.4 Bookbuilding, Pricing, and Allocation; 5.2.5 Aftermarket Support and Trading in the Secondary Market; 5.3 Bookrunner/Manager Rankings; 5.4 Bond Issuing Fees; 5.5 Retail versus Institutional Tranches; 5.6 Conclusion; References; Chapter 6 Case Studies of Landmark Issues; 6.1 Landmark Issues.
- 6.1.1 Benchmark Issues with Longer Tenors6.2 Case 1: The First Dim Sum Bond and the First Chinese Financial Institution Issuer-China Development Bank (and the First 15-Year and 20-Year Bonds); 6.2.1 General Bond Information; 6.2.2 Issuer Background; 6.2.3 Use of Proceeds; 6.2.4 Risks; 6.2.5 Significance of This Landmark Issue; 6.2.6 benchmark Issues of Longer Tenors (15-Year and 20-Year Dim Sum bonds); 6.3 Case 2: The First Dim Sum Bond Issued by A China-Incorporated Foreign Bank-The Bank of East Asia (China) Limited; 6.3.1 General Bond Information; 6.3.2 Issuer Background.