SINGAPORE, June 19 (IFR) - Asian credit was little changed during a slow session, with few market risk events on the horizon and bonds continuing to push at tight levels.

"People are still searching for yield," said a credit trader. "Any short-dated, good-quality paper, like Single A and Double A names, continues to find interest."

The Asia ex-Japan iTraxx investment-grade index was seen flat at 84bp/85bp. Among the constituents, the cost of 5-year CDS rose 4bp for Woori Bank and Swire Pacific, while it tightened 6bp for Singtel.

"People have been selling CDS," said the trader. "Dealers don't want to trade because no one is going to buy."

He pointed to Chinese 5-year CDS, which was seen at 65bp mid today, having tightened from 77bp at the start of the month and 118bp at the start of the year.

China Reinsurance's 2022 bonds widened more than 2bp to Treasuries plus 174bp, after it announced plans for a benchmark-size reopening of the issue.

Noble Group had some positive news, after Reuters reported that creditors had agreed to extend a US$2bn credit facility, due to be rolled over this week, until October.

However, that did not improve the picture much for unsecured creditors, and Noble's perpetual bonds callable in 2019, which have a coupon payment due on June 24, fell three-quarters of a point today to a cash price of just 15.

Its recently issued 2022 bonds also fell by the same amount, to a cash price of 36.5, implying a yield of 39%.

Road King's perpetual bonds callable in 2022 dropped around three-quarters of a point as it began bookbuilding for a new fixed-for-life perpetual issue. They were quoted at 104.3, still marking a hefty gain since they were issued at par in February.

(Reporting by Daniel Stanton; Editing by Vincent Baby)