News Snapshot:
Read all Euromoney coronavirus coverage An unusual event rocked Asia’s loan market during the coronavirus crisis. In March – more than a month after the Covid-19 outbreak had begun – new deal launches ground to a halt, site visits were scrapped and a handful of live dollar deals struggled to gain traction in syndication. Taiwanese banks, which are among the largest pools of liquidity for Asian dollar loans, suddenly found that their US dollar funding costs had soared dramatically over a two-week period that month. Facing a shortage of liquidity, a group of Taiwanese banks made a daring call. The...
