Emerging debt-New IRPC bonds firm, Hyundai CDS widens

Newswire

HONG KONG, May 23 (Reuters) - New bonds from Thailand's IRPC PCL were firm on Wednesday after the offer was more than six times subscribed, while Philippine bonds eased in an otherwise steady market. The cost of protecting debt in Hyundai Motor , South Korea's biggest auto maker, rose amid a recent rally in its shares. Dealers said the widening resulted from some capital arbitrage trades by hedge funds. In the primary market, Pakistan set out price guidance for a 10-year bond, which ...

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