Asia 100 1997: Waiting for the impact
After a slow year for Asian Eurobonds, new issuance all but dried up following the Hong Kong stock-market crash in late October. With spreads for Asian benchmark issues widening dramatically, it was clear that confidence in Asian debt had suffered a dramatic decline. Only the most desperate, the most creditworthy or the best-known borrowers are likely to risk a return to the market in 1998.
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