formosa

Amid growing competition, Morgan Stanley’s Julien Begasse de Dhaem gives his strategy for a profitable debt business, from financing ChemChina to selling Formosa bonds.

The sale of foreign-currency bonds with short-dated call options has been outlawed in Taiwan. Other options line up to satisfy investors hunting yield.

Issuance in Formosa bonds has crashed following regulatory changes, but insurers still desperately need higher-yielding products to meet their obligations to policy holders.

Taiwan’s formosa market is attracting European borrowers thanks to the island’s friendlier regulatory environment, with UBS raising two bonds in just over two weeks.

Taiwanese petrochemicals group completes giant equity-linked deal.

Delays notwithstanding, the deal achieves the rare distinction of having an offshore branch of a Mainland Chinese bank participate in a loan indirectly related to a Taiwanese company.