EM ASIA CREDIT: Thai Oil: Increasing tender amounts
Sep-12 01:16
(TOPTB, Baa3neg/BBB-neg/NR)
"*THAI OIL RAISES TENDER OFFER FOR USD BONDS TO $300M FROM $200M" - BBG
The $100m increase in the tender offer relates to the two USD 4.875% 1/43 notes issued in 2013 ($146m outstanding) and 2018 ($262m outstanding). The maximum acceptance rate for the remaining bonds in the tender offer remain unchanged.
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CHINA SETS YUAN CENTRAL PARITY AT 7.1350 WEDS VS 7.1418
Aug-13 01:16
- CHINA SETS YUAN CENTRAL PARITY AT 7.1350 WEDS VS 7.1418
JGBS: Twist-Flattener Ahead Of 5Y Supply
Aug-13 01:09
Tokyo morning trade, JGB futures are weaker but off cheaps, -17 compared to settlement levels.
- Japan's July PPI was close to expectations. The m/m outcome printed at +0.2%, in line with expectations, while the June outcome was revised to 0.1%m/m (originally reported as -0.2%). In y/y terms we printed at 2.6%, versus 2.5% forecast and 2.9% prior.
- For July, export and import prices both rose in m/m terms. Export prices were up 1.6%, while import prices were up 2.4%m/m. For import prices this was the first m/m rise since January of this year. In y/y terms, both export and import prices were still in negative territory, but up from the June levels. Export prices were -5.4%y/y, while imports were -10.4%.
- Cash US tsys are ~1bp cheaper in today’s Asia-Pac session after yesterday’s post-CPI twist-steepener.
- Cash JGBs are showing a twist-flattener across benchmarks, with yields 2bps higher to 3bps lower. The benchmark 5-year yield is 1.7bps higher at 1.058% ahead of today’s supply.
- Swap rates are flat to 2bps lower. Swap spreads are tighter out to the 30-year.
AUSSIE BONDS: ACGB Dec-35 Auction Result
Aug-13 01:08
The AOFM sells A$1200mn of the 4.25% 21 December 2035 bond:
- Average Yield (%): 4.2776 (prev. 4.3442)
- High Yield (%): 4.2800 (prev. 4.3475)
- Bid/Cover: 3.2417x (prev. 2.6500x)
- Allotted at Highest Accepted Yld as % of Bid at that Yld (%): 18.2 (prev. 3.5)
- Bidders: 33 (prev. 29), 22 (prev. 16) successful, 13 (prev. 12) allocated in full
