Citi

The dollar market for public sector borrowers is showing remarkable disdain for bankers’ summer holiday plans, with a trio of deals printed across the curve during the usually quiet days of August. But this week’s long dated deals are unlikely to signal jumbo 10 year dollar benchmarks’ return from a long vacation.

uarantor: Financial Market Stabilisation Fund of the Federal Republic of Germany

Pricing on a $1.5bn borrowing for Indonesian state-owned oil company Pertamina has become a talking point among loans bankers. Some believe that the loan will not have an easy time in syndication as the cost of funds at Japanese and Taiwanese lenders creeps up, writes Shruti Chaturvedi.

India’s Infrastructure Leasing & Financial Services is eyeing a Rp15bn ($224.3m) IPO for an infrastructure investment trust (InvIT) later this year, according to a source familiar with the matter.

Jamaica announced initial price thoughts of 7% for a reopening of its 8% 2039 bonds on Wednesday as it looks to raise funds to finance a tender offer for its 2017s and 2019s.

One of the longest running and most painful sagas in global leveraged finance came to an end this week when high yield investors on Wednesday accepted Veritas Technologies’ €600m-equivalent secured seven year non-call three senior bond eight months after it was first launched. Victor Jimenez reports.

FMS Wertmanagement printed $2bn of bonds on Wednesday for the first time since November 2013 and only the fourth time in its history, as rampant demand in the currency showed no signs of letting up.

Ghana bought back $100m of its outstanding 2017s on Tuesday after postponing a new issue last week which was due to finance a much larger buy-back. Ghana’s bonds have since rallied, bringing the country’s borrowing costs down substantially, according to a fixed income investor.

Public sector borrowers are extending their run of success in dollars, thanks in part, according to an SSA syndicate banker, to a shortage of places for investors to put cash.

India’s RBL Bank has fixed the price range and bookbuild dates for its IPO next week, which is set to raise Rp12.1bn ($180.6m).

Caribbean island nation Jamaica is planning to issue a new long dated bond to buy back short term debt on Thursday as it looks to take advantage of highly liquid new issue markets and the strong performance of its existing bonds.

FMS Wertmanagement mandated banks for a dollar benchmark on Tuesday as Asian Development Bank sold a dual tranche dollar green bond, amid a topsy-turvy time for US Treasury yields.