Citi
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The social bond market — though still nascent — is rapidly gaining momentum. Three public sector issuers made their debuts in the market this week, all of which met with enthusiastic approval from Europe’s community of dedicated socially responsible investors. -
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Nigeria’s plans to issue the longest ever sub-Saharan African Eurobond outside of South Africa will be a canary in the coal mine for frontier market issuers looking to extend their curves, according to EM analysts. Virginia Furness reports.
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Bankers hope political turmoil won’t scupper Spain’s M&A market just as it emerges from years of stagnation, writes David Rothnie.
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Hong Kong’s Wing Lung Bank managed to raise $400m from a Basel III tier two bond on Wednesday, braving increased volatility to find a source of replacement capital.
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Edelweiss Financial Services has added Rp15bn ($229.6m) to its coffers after pricing its qualified institutional placement at the bottom of the range.
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Shenzhen International Holdings and Tahoe Group Co have mandated banks to organise roadshows for new dollar bonds.
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Greece has fired the starting gun on its latest debt rehabilitation effort, after launching a roughly €30bn exchange offer for 20 bonds it issued as part of its restructuring in 2012.
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Fixed-line telecom operator WTT HK priced a $670m bond on Tuesday, with the rare Hong Kong high yield name attracting robust investor interest. Despite a choppy market, the issuer tightened pricing by 37.5bp, and the notes held up well in secondary.
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Union Bank of the Philippines is getting ready to offer international investors some variety as it sets the stage for its first dollar bond since 2004.
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Wing Lung Bank, one of Hong Kong’s oldest local banks, is marketing a Basel III tier two dollar bond, just days after failing to redeem its legacy bank capital notes on their first call date.
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CVC and Ardian charged up the leveraged loan deal pipeline with new buyouts of European businesses in Ireland, Greece and Spain this week. A strengthening European economy is likely to attract more, said market participants.
