Asia ECM: proceed with caution
Most ECM practitioners in Asia are set to end 2016 not with a bang but a whimper. And even after such a volatile year, they are heading into 2017 with a rosier view of the market. But given the topsy...
View ArticleLat Am high yield at risk as negative outlooks abound
Fitch said on Tuesday that there would be “no respite” for Latin American corporates in 2017 after record high defaults this year, although not all bond investors share the rating agency’s gloom.
View ArticleCrédAg paves new TLAC path with first ever senior non-preferred
Investors greeted Crédit Agricole’s market opening senior non-preferred trade with more than €5bn of orders on Tuesday, allowing the issuer to bring pricing closer to its vanilla senior curve. Société...
View ArticlePoland sets strong precedent with first sovereign green bond
Poland raised €750m from its debut green bond on Monday which was allocated 61% to green accounts. The sovereign claimed that it was able to print flat to inside where a new conventional bond would...
View Article‘UniCredit is not an outlier’: Mustier confident on Basel IV ahead of €13bn...
UniCredit will not be one of the Basel IV ‘outliers’ that will have to substantially increase its capital levels when the new rules come in, according to chief executive Jean-Pierre Mustier, speaking...
View ArticleRabobank to set up new covered bond programme
Rabobank, the largest mortgage lender in the Netherlands, announced on Tuesday that it was seeking to register a new Dutch covered bond programme.
View ArticleTata Sons snaps up Tata Motors shares for Rp24bn
Tata Sons has forked out Rp24.3bn ($359.8m) for a block of shares in Tata Motors through a reverse bookbuild process, the first deal of its kind in India.
View ArticleEurohold refines guidance to 8.25% area
Eurohold, the unrated Bulgarian insurance and leasing group, refined guidance on Tuesday for a €50m five year EMTN to 8.25% area and said indications of interest were in excess of €45m.
View ArticleShandong Ruyi draws interest for $250m
Shandong Ruyi Technology Group issued its debut international bond on Tuesday, continuing the trickle of year end issuance from China ahead of the expiration of regulatory approvals.
View ArticleBuyers turn to Africa after Poland prices green
Poland delivered a keenly priced green bond debut on Monday in the brief window before the US Federal Open Markets Committee meeting on Wednesday. Now attention in CEEMEA bonds has fallen upon next...
View ArticlePricing still tightening as lev loan bankers wrap up busy December
It is commitments week in the European leveraged loan market this week, after a busy December packed with deals. Nine transactions are due to be priced, with several, including Morpho’s €2.1bn term...
View ArticleFinancial sector ECM promises lively 2017, as UniCredit, Amundi announce cash...
With the Christmas holidays fast approaching, equity capital markets are demonstrating that the first quarter of 2017 is likely to be busy, with two significant rights issues announced in the past few...
View ArticleNigerian Eurobonds rally despite $7bn debt discovery
Nigeria's sovereign bond prices have rallied with a new Eurobond expected in January despite the government reporting on Monday N2.2tr ($7bn) of unrecorded debt, equivalent to 2.3% of the country's GDP.
View ArticleSSAs calm on Fed but US politics raise concerns
The public sector market is awaiting the final big event of 2016 in the shape of the US Federal Reserve’s rate decision later on Wednesday. But while a US rate rise looks all but a certainty, some...
View ArticleNon-preferred bonds burst on to senior scene
French banks have wasted no time since receiving legal confirmation they could issue senior non-preferred bonds, with two financial institution delving into strong investor demand for the new asset...
View ArticleNBAD picks relationship banks for $2bn but some EU lenders absent
National Bank of Abu Dhabi signed a $2bn three year loan on Tuesday, cementing the bank group for its $175bn merger with First Gulf Bank, though some key European banks turned down a role on the deal.
View ArticleLoans set for a reboot in 2017 as rate hikes loom
Next year’s Asian loan market could see a shift in dynamics as lenders juggle rate hikes and abundant liquidity. Borrowers could also turn away from bonds in favour of syndicated lending, setting the...
View ArticleArgentine airport operator preps bond return
Aeropuertos Argentina 2000, the Argentine airport operator, is looking to return to bond markets in 2017 with a 10 year deal of up to $400m.
View ArticleNew laws set to bring life to Myanmar’s capital markets
Myanmar’s capital market is set for a fillip in 2017 from foreign investors who will gain greater access thanks to new laws coming into force. Expectations are high but the country will be wary of...
View ArticleElazig Hospital PPP leads the way for EM infrastructure financing
Turkey’s Elazig Hospital has placed an innovative project bond, the structure of which enabled it to achieve a rating two notches above the Turkish sovereign. With infrastructure financing needs huge...
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