the name’s bond…

This is a cute little snippet which appeared in a little brown sidebar, next to an article titled ‘Yuan bond offerings off to strong start in Singapore’ in today’s Today (by the same writer)……

The name’s Bond … Bak Kut Teh Bond?

While analysts are upbeat about the potential of offshore yuan-denominated bonds issued in Singapore, nobody seems certain what to call them.

Initially, many people stuck with “Dim Sum Bonds”, which is what yuan debt issued in Hong Kong is known as. However, to differentiate Singapore’s offerings, some have started to call them “Lion City Bonds”.

But some think that shows a lack of imagination bearing in mind the colourful names given to bonds elsewhere, such as Japan’s Samurai Bonds and Korea’s Kimchi Bonds.

Asia Risk Editor Aaron Woolner tweeted that “Lion City” is lame and called for something better.

But OCBC’s Tommy Xie Dongming disagreed: “It makes sense in Chinese because Lion City is Shi Cheng. So it’s snappy like Taiwan’s Bao Dao (Formosa) bond. I’m not sure what else we should call them. Bak Kut Teh bonds?”

Mr Jason Hughes, Head of Sales Trading at CMC Markets, said that a more Singapore-centric alternative to dim sum might be Bak Chor Mee Bonds.

WONG WEI HAN

Today, 31 May 2013, page 52

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