| Sunday, April 29, 2007 |
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According to a Bloomberg report, Lehman Brothers Holdings Inc., expects India and China to be the fastest-growing markets for convertible bond sales in the region.
Joonkee Hong, the Lehman's Hong Kong-based head of global finance for the Asia-Pacific region is quoted “India is a new market for us, where fees for arranging convertible bond sales are still kept at a reasonable level,”.
Companies such as China Petroleum & Chemical Corp., (Asia’s biggest refiner), and Hotel Leelaventure Ltd, (India’s third-biggest hotel company), raised $5.9 billion selling convertible bonds this month. That is a 67% increase from the same period last year. According to a forecast by Lehman, the market for convertible bonds in the region could reach a record $28 billion this year. |
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