Further development is also required in the onshore derivatives market to ensure a broader and deeper suite of currency and interest rate hedging products for both issuers and investors.
As such, most plan sponsors have delayed implementing valuable interest rate hedging or de-risking strategies; however, plan sponsors could benefit from more specific analysis and action steps.
These are aimed at servicing the needs of corporate and institutional customers, which include market risk management (e.g. foreign exchange or interest rate hedging), trade finance and bond issuance.
The refinancing involved a series of financings with banks and bond investors, in combination with a long-term interest rate hedging program to protect against raising interest rates.