As the May 1 holiday nears, Asia’s debt capital market is closing out its busiest month on record with a flourish after CLP Power, Korea Land and Housing, and State Grid raised a total of $4.5 billion on Monday.
Borrowers are keen to make use of the issuance window before global markets break for Labour Day and before the second half of 2014 when interest rates are expected to rise. Also, February and March were fairly quiet months as a result of the Russia-Ukraine crisis that caused the Asia DCM pipeline to come to a standstill.
“The key uncertainty for the market in the second half...
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