Foreign Denominated US Sovereign Debt
GE Capital Sells First FDIC Bonds in Asian Currency (Update3)
By Patricia Kuo
Feb. 4 (Bloomberg) -- General Electric Capital Corp., General Electric Co.’s finance arm, borrowed HK$1 billion ($129 million) with the first Federal Deposit Insurance Corp.-backed bonds sold in an Asian currency.
Stamford, Connecticut-based GE Capital sold three-year floating-rate notes paying 0.2 percentage point more than the three-month Hong Kong interbank offered rate, according to an e- mail sent to investors today. HSBC, a unit of HSBC Holdings Plc, managed the top investment grade-rated sale.
“The fact we have an issuer coming from afar reflects general comfort for the positive bond market fundamentals in this part of the world,” said Tim Condon, head of Asia research with ING Groep NV in Singapore. “You still have traditional investors who need to buy high-quality assets.”
(h/t http://byzantine-ruins.livejournal.com)
N.B. today the US Dollar index is 85.609, and the London PM gold fix is 905.
By Patricia Kuo
Feb. 4 (Bloomberg) -- General Electric Capital Corp., General Electric Co.’s finance arm, borrowed HK$1 billion ($129 million) with the first Federal Deposit Insurance Corp.-backed bonds sold in an Asian currency.
Stamford, Connecticut-based GE Capital sold three-year floating-rate notes paying 0.2 percentage point more than the three-month Hong Kong interbank offered rate, according to an e- mail sent to investors today. HSBC, a unit of HSBC Holdings Plc, managed the top investment grade-rated sale.
“The fact we have an issuer coming from afar reflects general comfort for the positive bond market fundamentals in this part of the world,” said Tim Condon, head of Asia research with ING Groep NV in Singapore. “You still have traditional investors who need to buy high-quality assets.”
(h/t http://byzantine-ruins.livejournal.com)
N.B. today the US Dollar index is 85.609, and the London PM gold fix is 905.