Bond market data and technology, BondEvalue

BondEvalue

Bond market data and technology

BondEvalue is a Singapore-based Fintech that specializes in bond market data and technology. The company's information services business offers bond market data on hard-currency corporate & sovereign bonds across Asia, Middle East, Europe and the Americas. The data, which includes bond prices, yields, news and analytics, is offered to end investors via interactive Mobile and Web Apps. Investors can sign up for a free trial of the service either via the company's website (https://bondevalue.com) or by downloading the BondEvalue Mobile App (http://onelink.to/wej7jq). BondEvalue is also developing an electronic bond exchange, BondbloX in Singapore that allows investors to trade bonds electronically in smaller sizes (US$1,000 or equivalent). For more information, visit https://www.bondblox.com/

Bond Market Data and Technology

Credit

Lippo Malls Indonesia Retail Trust (LMIRT) will not be redeeming its outstanding S$140mn ($102.9mn) 7% Perp on the first call date of September 27, as per IFR. The coupon will reset to the prevailing 5Y Singapore dollar SOR + initial spread of 524.5bp. Based on current SOR levels, the coupon will reset to ~6.18%. The decision to skip the call on its subordinated debt (Term of the Day, explained below) does not breach any covenants, but was not unexpected as it would have to pay a much higher yield on a new Perp – its 7% Perp currently yields 7.4%, trading at 82.5 and hence, not calling the bond and not issuing new debt to refinance would translate to a saving of around 122bp.

LMIRT To Skip First Call on its SGD 7% Perp

Asia High Yield Bond Index

LMIRT To Skip First Call on its SGD 7% Perp