*Official* corporate bonds thread

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icicic

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Not sure, wondrdoggie. Unfortunately I'm not a client. On the other side of the fence so more a "know your competitor" situation. Suspect it has to do with how liquid a bond is internally though! Likely limited ISIN only.

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icicic

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Ocbc perp nc5y at1 coming out at 4%? Seems tight....

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limpoop

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SCG8866T said:
I got mine from CIMB brokerage. I think all brokerages have access to bonds. They all should have a bond/ELN desk which give a much more attractive price than banks. My view.
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Is the commission 0.25% for buying and selling?
 
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limpoop

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SCG8866T said:
Im currently eyeing on

DBS 4.7% NCP Basel 3 compliant perp bond(better than the retail listed)
Cheung Kong 5.125% perp bond
Genting SP 5.125% perp bond(better than the retail listed)
Ascott Res Trust 5% perp bond
Temasek 4.2% 40 years tenure bond

Also eyeing on new issues.
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Do you consider these and why?

UOB 4.75% (current ask price $104.775 from sgx)

UOB 4.90% (current ask price $103.901 from sgx)

Do you think DBS and UOB will launch new bonds after OCBC launched the 3.8% NC5 bonds yesterday?
 
SCG8866T

SCG8866T

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limpoop said:
Do you consider these and why?

UOB 4.75% (current ask price $104.775 from sgx)

UOB 4.90% (current ask price $103.901 from sgx)

Do you think DBS and UOB will launch new bonds after OCBC launched the 3.8% NC5 bonds yesterday?
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Yes those two are good choices too.

UOB 4.75% resets 19nov 2019 onwards to 6year sgd swap offer + 2.92% spread

UOB 4.9% resets 23rd July 2018 onwards to 5years sgd swap offer. + 3.195% spread

Both are Basel III capital instrument.
 
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dayowl

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limpoop said:
Do you consider these and why?

UOB 4.75% (current ask price $104.775 from sgx)

UOB 4.90% (current ask price $103.901 from sgx)

Do you think DBS and UOB will launch new bonds after OCBC launched the 3.8% NC5 bonds yesterday?
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hi,
sorry, a noob question here.
"current ask price $104.775 from sgx"... I can only see only few retail bond in sgx website.
where in sgx can I see the price you mentioned. Is that referring to retail bond?
 
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barbaricboon

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wondrdoggie said:
For retail bonds, I think any broker will do. For the 200-250k trench types, Bank of Singapore (OCBC's private bank) claims to specialize in them. At least that's what they told me.
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Wooha, just checked your recommendation regarding Bank of Singapore. Need to invest min 2mil :(. Is Bondsupermart a good place to seek advice and select/buy bonds???
 
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wondrdoggie

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dayowl said:
hi,
sorry, a noob question here.
"current ask price $104.775 from sgx"... I can only see only few retail bond in sgx website.
where in sgx can I see the price you mentioned. Is that referring to retail bond?
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I think these are not retail bonds but those $250k a pop accredited investors type. For indicative pricing for these 250k bonds, check out trade haven. But it's otc in SG so prices are not transparent. When you really want to buy or sell, then your broker/bank will call the traders to get a firmer price.
 
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wondrdoggie

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barbaricboon said:
Wooha, just checked your recommendation regarding Bank of Singapore. Need to invest min 2mil :(. Is Bondsupermart a good place to seek advice and select/buy bonds???
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Just to clarify. I wasn't really recommending BOS, just that when I spoke to them, they said they specialise in bonds. I have never used them before...

BOS is the private bank of ocbc so yes, for hnwi only. For retail bonds, you can prices easily from any regular broker.

As for research, I strongly suggest doing your own homework. Read the prospectus to see what they are using the money for. If they are raising money to pay older debt, it's not ideal. Compare with comps to see if yield is reasonable. Read up about the company, industry and macro environment. If it's a perp, be aware you only exit is via the secondary market. Etc etc.
 
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wondrdoggie

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neanea said:
aspial new issue is out. Any views on this bond?
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I am not in the market for bonds right now so I have not taken a close look. But at a glance, it's pretty attractively priced. But there are quite a lot of debt on their books if I remember correctly and they are using the money to pay for debts and business cost. It's a small issue so liquidity will be a consideration. However it's a retail trench with lots of buyers so if your bite size is small, should still be ok. One thing to note though, interest rate is projected to go up in the near or mid future so bond valuation in the secondary market will be hit. If you plan to hold till maturity, no problem. But if you need to sell before, you might have to suffer a loss. That also means that if you don't buy now and buy later when valuation drops due to interest rates, you will get a better yield to maturity. My 2 cents.
 
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neanea

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wondrdoggie can for your views on aspial. Where are you putting your money now if not in bonds?
 
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wondrdoggie

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neanea said:
wondrdoggie can for your views on aspial. Where are you putting your money now if not in bonds?
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I already have bonds so not looking to buy any new ones. I also have stocks, fx, PE funds, hedge funds and some elns/fcns. Basically I am pretty diversified globally.
 
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neanea

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wondrdoggie said:
I already have bonds so not looking to buy any new ones. I also have stocks, fx, PE funds, hedge funds and some elns/fcns. Basically I am pretty diversified globally.
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Can share What products are you invested for fx?
I am new to bonds and these stuffs you mentioned and keen to learn more, hope you don't find my questions irritating
 
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limpoop

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