Bank of America
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Two rare issuers announced plans to issue euro debt on Tuesday, with Swisscom mandating for its third ever deal and Pentair hiring banks for a possible debut in the currency.
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WTI crude oil’s slide to below $40 last week sent Ecuador’s bonds plummeting as economists predicted more pain for the Andean nation.
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Swedish Export Credit Corporation had to brave turbulent conditions on Friday to wrap up a flurry of dollar benchmarks from public sector issuers this week.
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Tata Power's subsidiary Khopoli Investments is making a quick return to the loan market, mandating six lenders to arrange a $300m refinancing.
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More currency volatility and a shaky stock market may look scary, but the trend for foreign ownership of Chinese securities is up. Standing at just 2% of the Chinese market, further reforms can only boost the quota of Chinese equities and bonds in global portfolios, according to banks and asset managers.
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The dollar pipeline for SSAs showed no signs of closing on Thursday, as an agency mandated, a supranational printed, and bankers suggested that next week will be even busier.
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The European Investment Bank opened up a new line in its Climate Awareness Bond product on Thursday.And despite paying little or no new issue premium was able to increase the deal’s size.
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International Container Terminal Services (ICTSI) provided a breath of fresh air to Asia’s bond market with its $450m perpetual deal. The lack of issuance this year from Philippine borrowers worked in the company’s favour, but SMC Global Power Holdings Corp’s quick follow-up had to endure a turn of sentiment in the market.
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The dollar market for SSAs kept up this week’s sizzling form on Wednesday, as another issuer mandated for a benchmark — bringing the total for what is historically a quiet week to four deals.
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James Sadler has joined Bank of America Merill Lynch as head of Middle East and North Africa debt capital markets coverage. He is also responsible for South African financial institutions DCM.
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A pair of public sector borrowers — including a super rare issuer in dollars — have nipped in ahead of a data laden September to bring deals this week, following the lead of Denmark’s KommuneKredit.
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SSA issuers coming in dollars before the next US payroll data release on September 4 are likely to take a conservative approach — a route already taken by two borrowers this week.