Republic of Indonesia is selling 10-year Islamic securities yielding about 3.5 percent, said a person familiar with the deal. China Taiping Insurance Holdings Co. is offering about 260 basis points more than Treasuries on bonds due 2022 while Export-Import Bank of Korea is in the market with three-year notes at a spread of about 115 basis points, separate people said. The last time three Asian borrowers sold dollar debt in a single day was on Oct. 18, data compiled by Bloomberg show.
Investors are turning to Asian investment-grade bonds as they seek to earn extra yield while avoiding riskier assets such as stocks or junk debt, according to Credit Agricole SA. (ACA) Far East Consortium International Ltd. (35) and Australia's Bluescope Steel Ltd. (BSL) scrapped plans for speculative-grade note offerings this week.
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