Dim sum arbitrage

Dim sum bonds offer borrowers arbitrage opportunity

With swaps in their favour, more foreign borrowers could be encouraged to tap the market, though dim sum bonds are showing signs of stress following a possible breach of covenants by Global Bio-chem.

<div style="text-align: left;"> Dim sum is back on the menu as rates for swapping renminbi into dollars prove attractive </div>

Denise Wee

August 24, 2012

Hyundai Capital and IFC both tapped the dim sum market this week, taking advantage of the arbitrage opportunity while swaps are in their favour.

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