Asian Bor­row­ers Look to Euro

The Economic Times - - Money & Banking -

Asian bor­row­ers are set­ting their sights on the euro af­ter sell­ing the most dol­lar­de­nom­i­nated bonds on record last month, as spec­u­la­tion the Euro­pean Cen­tral Bank will ease pol­icy cuts fund­ing costs to an all-time low. South Korea meets in­vestors in Europe this week to pitch its note sale, af­ter Bharti Air­tel, In­dia’s largest mo­bile-phone car­rier, ear­lier in May of­fered euro-de­nom­i­nated se­cu­ri­ties for the third time in six months. Mac­quarie Bank sold a 500 mil­lion ($681 mil­lion) deben­ture in April. “There’s a fairly large in­vestor base sit­ting in Ger­many, France and Hol­land who have a ded­i­cated need to buy euro paper, and there’s just not enough com­ing from Asia,” Kaushik Ru­dra, the Sin­ga­pore­based global head of credit re­search at Stan­dard Char­tered, said on May 20.


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