SINGAPORE, April 7 (IFR) - Asian sovereign bonds generally
rose today amid announcements of new supply, traders said.
Sri Lanka marketed an offering of USD500m sovereign bonds at
a yield of about 5.5% today, while Pakistan is expected to price
a dual-tranche issue of 5-year and 10-year bonds tomorrow.
Indonesia 2044s rose 0.75 to 1 point to 109.5/110 and
Philippines 2027s rose 50 cents to 109.375, traders said.
Sri Lanka's 2019s, meanwhile, dropped half a point to 104 to
yield 5.04%, leading investors to believe that the coupon on the
new bonds will be "significantly tightened" from 5.5%.
Sentiment was slightly weaker among high-yield credits as
bonds from Chinese property companies fell slightly.
Shui On Land's 2015s and Evergrande Real Estate Group's
2015s and 2016s drew buying interest, however.
Lippo Karawaci's freshly issued USD 150m bonds traded up on
private banking support. The 8-year non-call 4-year bonds, which
priced at par on Friday, were quoted at 100.625/101.
The Indonesian developer received USD900m in orders for the
bonds from 105 accounts.