GC
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Indian bonds hit in secondary after downgrade
Moody’s Investors Service downgraded the government of India to Baa3 from Baa2 on Monday, triggering bonds from the country to widen in the secondary market.
02 Jun 2020 -
AIIB mandates for debut Panda bond
The Asian Infrastructure Investment Bank has hired banks for a renminbi sustainable development bond, its first outing in the Panda market.
29 May 2020 -
China’s special Covid-19 treasury bond disappoints in size, sparks debate on central bank’s role
China is reviving the issuance of its special treasury bonds, a funding tool it has not used since the financial crisis. But bankers were underwhelmed by the Rmb1tr ($140bn) size target — and are also hoping for clarity on how the ‘anti-pandemic’ deal will be financed. Addison Gong reports.
28 May 2020 -
Local government bond volume hits new weekly high
Bond issuance from Chinese local governments is set to reach an all-time high this week, as issuers rush to use their existing quotas after authorities in Beijing unveiled the year’s funding allowance.
27 May 2020 -
Kangaroo volumes on the rise
A quartet of SSAs borrowed a combined A$940m ($613.4m) into the Kangaroo market this week, spurring the SSA Aussie dollar market on to its best monthly volume in over nine months.
22 May 2020 -
AIIB to launch debut Panda in early June
The Asian Infrastructure Investment Bank has started roadshows for its maiden Panda outing ahead of its planned launch in early June, GlobalCapital China has learned from sources. Part of the proceeds from the Rmb5bn ($703m) deal will be used to fund an emergency Covid-19 relief loan to China.
19 May 2020 -
Sri Lanka’s bonds take a beating
Sri Lanka’s dollar bonds were among the worst performing high yield notes in Asia last week, as the country continues to battle the Covid-19 pandemic and refinancing pressures loom.
18 May 2020 -
Finland returns to busy dollar market
The Republic of Finland had to share its return to dollar market on Wednesday with a trio of three year SSA deals. Demand for dollar SSA bonds has been strong this week, and with mandates out for five and seven year deals,issuers are still looking to take advantage
13 May 2020 -
Land NRW makes dim sum debut
The German state of North Rhine-Westphalia made its first visit to the offshore renminbi market earlier this week, continuing this year’s SSA dim sum shopping spree.
30 Apr 2020 -
Philippines’ tack on $2.35bn bond wins over investors at tight levels
The Republic of the Philippines printed one of its largest bonds on record this week at exceptionally tight levels, taking $2.35bn from a dual-tranche deal. The sovereign gave investors what they wanted: long tenors, attractive initial pricing levels and full clarity on the impact of Covid-19 on the country, writes Morgan Davis.
29 Apr 2020
