EM ASIA CREDIT: Alibaba: Raises liquidity via exchangeable
Jul-04 01:19
(BABA, A1neg/A+/A)
"*ALIBABA PRICES OFFERING OF HK$12.023B OF EXCHANGEABLE BONDS" - BBG
Alibaba has raised HK$12bn ($1.5bn) through the issuance of an exchangeable into Alibaba Health. The use of proceeds will be for general corporate purpose, including investment related to could infrastructure and its international operations. The company is expected to maintain a significant cash balance for investment purposes ($108bn end March '25). Neutral for spreads.
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CNH: USD/CNY Fixing Edges Up, Fixing Error Back To Negative
Jun-04 01:18
The USD/CNY fixing was set at 7.1886, against a BBG market consensus of 7.2005.
- The fixing error is back to negative (-119pips), after yesterday's +137pip outcome. A negative fixing error is in line with the stronger USD over the past 24 hours.
- The actual fix is only a touch above yesterday's outcome (7.1869).
- Spot USD/CNH is relatively steady in the first part of Wednesday trade, last just above 7.1900.
CHINA SETS YUAN CENTRAL PARITY AT 7.1886 WEDS VS 7.1869
Jun-04 01:18
- CHINA SETS YUAN CENTRAL PARITY AT 7.1886 WEDS VS 7.1869
BOJ: Rinban Purchase Offer
Jun-04 01:16
The BoJ offers to buy a total of Y785bn of JGBs from the market:
- Y100bn worth of JGBs with <1 Year until maturity
- Y275bn worth of JGBs with 1-3 Years until maturity
- Y275bn worth of JGBs with 3-5 Years until maturity
- Y135bn worth of JGBs with 10-25 Years until maturity
