Asia’s debt capital markets experts expect a busy if uncertain year in the region’s credit markets, according to an informal survey carried out by Euromoney this month. A poll of syndicate and origination bankers as well as analysts in Asia-Pacific, asking what the key themes for the region’s debt markets would be, revealed a number of consensus themes, as well as key areas of disagreement.
Asked which debt products would be most active in Asia in 2010, all of the bankers polled stressed the importance of high-yield bonds, although some were more optimistic than others about how well markets would support these lower-rated companies in their bids for capital.
| "Issuers will continue to want to enter the market but at the same time understand the need to remain disciplined" |
 |
"We will continue to see the high-yield space develop" says Fergus Edwards, head of syndicate Asia at UBS. "Issuers will continue to want to enter the market but at the same time understand the need to remain disciplined. Many will be reticent to pay what the market is demanding at the moment, especially for debut issuers."