Taking the RAPP

Article Abstract:

The US bond market remains attractive to Asian issuers as it is the largest and most liquid bond market in the world. However, many misunderstandings have arisen as Asian issuers of Yankee bonds have not completely understood the covenants that bind them, as the case of Riau Andalan Pulp and Paper's (RAPP) Yankee bond issue illustrates. RAPP's US bondholders reacted angrily when it tried to force a redemption to finance a new chemical plant, showing that covenants in the Yankee bond market can alter the way a firm conducts business.

International aspects, Cover Story, Securities industry, Securities, Riau Andalan Pulp and Paper

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Waiting for more investors

Article Abstract:

The Asian equity markets started to come out of the doldrums in 1996, but stock exchange volumes were off from the levels of the 1993 to 1994 bull market. In the first 10 months of 1996, there were 68 initial public offerings of stock worth almost $8 billion versus 124 IPOs worth $12 billion in 1994. The entire volume of the Asian equity markets for all of 1996 is forecasted at $12 billion versus the $20 billion recorded in 1994.

Securities and Commodity Exchanges, Security and commodity exchanges, Securities Exchanges, Stocks, Stock-exchange, Stock exchanges, Exchanges, Statistics, Asia, American depository receipts, American depositary receipts, Going public (Securities), Initial public offerings

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Sponsors take the domestic routes

Article Abstract:

Indonesia is undergoing an infrastructure development during the 1990s, and those firms involved in different projects are discovering financing from local sources. The domestic bond market is growing rapidly as the private sector begins to build new roads, telephone systems and power plants. The power industry is undergoing deregulation, which will result in more construction.

Nonbuilding Construction, Highway, Street, Bridge, and Tunnel Construction, HEAVY CONSTRUCTION, EX. BUILDING, Construction industry, Economic aspects, Heavy construction, Indonesia

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