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(From Business Day (South Africa))
Byline: Judy Green
Corporate bond market should develop appetite for greater risk THE corporate bond market is one of the successes in the fixed- income market, beginning in 1994 with South African Breweries. Issues are in billions of rands and all have good credit ratings.
For investors who want to take on a little more than the traditional interest-rate risk, the corporate bond offers some credit risk. Market share is growing, from 16% of new issues in 2004 to 28% of new issues so far this year.
If a company wishes to raise finance it has the option of going to a bank, but these lenders usually require …