Copying and distributing are prohibited without permission of the publisher
Investor ultimatum: stricter covenants or higher coupons on perps
May 08, 2012
From Clare Hammond
As the perpetual bond market deepens, investors are growing increasingly stringent about demanding protective covenants. Issuers must comply or be prepared to pay out much higher coupons.
The perpetual bond market is taking off, predominantly in Singapore, but it is likely that corporations from other Asian countries will follow. As investors become increasingly familiar with the structure, the demand for protective covenants has increased to such an...
This content is only available to Asiamoney PLUS subscribers or trialists.
If you have a username and password, you can login here.
Otherwise, please take a free trial or subscribe for unrestricted access.
Subscribe
Subscribers have unlimited access to all current and archive content. Start your subscription today - click on the button below.
Subscribe now
Free trial
Taking a free trial will give you access to the last 30-days of content (excluding some polls & awards articles), for two weeks. Start your trial today.
Free Trial