The Asean bank issuance rose from US$440
million in the second half of 2013 and US$1.97 billion in the first six months
of that year. Singapore's UOB raised US$1.24 billion.
Southeast Asian banks dominated regional bond
sales as corporate clients sought funding during the busiest year for
acquisitions on record.
Seven
of the top 10 borrowers in the Association of Southeast Asian Nations in the
first six months were banks, the most in any half since at least 2007. United
Overseas Bank, DBS Group, Krung Thai Bank and Export-Import Bank of Malaysia
were among lenders raising US$4.6 billion.
Mergers
and acquisitions by Asian corporate buyers rose 19.1 per cent from a year
earlier to US$343.4 billion. Banks sold dollar bonds to fund the deals, finance
trade and meet stricter Basel III capital rules, taking advantage of record low
US borrowing costs.
"Dollar
funding costs are relatively cheap and expected to increase," said Adissadikin
Ali, the Kuala Lumpur-based CEO of Export-Import Bank of Malaysia.
The
Asean bank issuance rose from US$440 million in the second half of 2013 and
US$1.97 billion in the first six months of that year. Singapore's UOB raised
US$1.24 billion.
"While
UOB remains predominantly deposit funded, we believe in diversifying our
funding sources to enhance the stability of our liability base," CFO Lee
Wai Fai said.
Business & Investment Opportunities
Saigon Business Corporation Pte Ltd (SBC) is incorporated
in Singapore since 1994.
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