The New Floor for Bond Underwriting Fees: $1

WALL STREET JOURNAL ASIA | on Wed, Jan 3, 8:01 PM

Fierce competition to underwrite debt offerings in Asia’s booming U.S.-dollar bond market is forcing some big global banks to work on deals for next to nothing. Barclays PLC and Standard Chartered PLC were among seven banks that recently helped sell a total of $1.3 billion in dollar-denominated bonds from three state-owned Indian companies, effectively providing their services free of charge. The three Indian companies paid a dollar in underwriting fees to each bank that handled the sales, ac...

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