Formosa Bonds Break Into the Mainstream
Formosa Bond Roundtable Formosa bonds Sponsored by break into the Supporting organisation mainstream Taiwan's Formosa bond market has taken off in 2015, helped by regulatory changes and a favourable cross-currency swap. Issuers from all over the world have flocked to take advantage of keen investor interest in the asset class, with foreign financial institutions particularly active in bringing new renminbi- denominated deals. Carrie Hong, editor of GlobalRMB, a sister publication of Asiamoney, discusses the recent developments in the market and its future prospects with a group of key participants representing issuers, investors and intermediaries. PARTICIPANTS Sarah Chen, head of fixed income, treasury division, E.Sun Bank Richard Liu, vice president, bond department, Taipei Exchange (TPEx) Eddy Lui, regional head of global markets for Greater China, global banking, Maybank Carol Tao, assistant general manager of fixed income section, treasury department, Bank of Taiwan Yvonne Tsai, senior vice president, fixed income products division, Cathay Life Insurance David Wang, CFO, Far Eastern New Century Corporation (FENC) Moderator: Carrie Hong, editor, GlobalRMB Carrie Hong, GlobalRMB: Issuance of promote the issuance of international bonds introduce themselves as Taiwan Gretai- Formosa bonds and international bonds in in Taiwan. Last year it relaxed market listed ones, others didn't really understand Taiwan has attracted a lot of attention from regulations. This year it changed its English that they were actually listed on an bond market participants around the world. name from the GreTai Securities Market to exchange market. We therefore changed So far this year, according to our estimate, Taipei Exchange. What was the reason for the English name to give people a very 27 RMB bonds have been issued in Taiwan this change? clear idea of what we are.
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