Citi
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National Bank of Egypt (NBE) has picked banks for its first bond deal in five years, hot on the heels of its sovereign’s return the international public markets last week.
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Red Star Macalline Group Corp, known for its home improvement and furnishings shopping malls in China, has started testing investor appetite for a roughly $1bn Hong Kong IPO, which will simultaneously give investors a taste of a property and consumer story. -
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FIG issuers paid double-digit new issue concessions across the board in the dollar market this week as they were rocked by choppy market conditions.
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The Egyptian sovereign, although beset by economic and political challenges, still drew hundreds of investors into a $1.5bn 10 year bond on Thursday — marking a triumphant return to the public bond market after a five year absence.
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The Gabonese Republic and MFB Hungarian Development Bank have little in common, other than being the best prospects to break the Middle East’s dominance of the CEEMEA benchmark market.
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Extreme swings in European government bond yields rocked markets this week, but worse could be yet to come.
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Bank of Sharjah priced its first international bond deal on Monday, while National Bank of Abu Dhabi and Drake & Scull International added their names to the Middle East pipeline. But there are signs the run of Middle East deals is leading to fatigue in the conventional market.
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Vestas Wind Systems, the Danish wind turbine maker, has refinanced a revolving credit facility it agreed last year, extending the tenor and achieving more favourable terms.
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Dell, the US personal computer maker, has closed books on a loan repricing and will increase the deal, although investors put the brakes on a full repricing.
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Woori Bank this week became the first non-Chinese bank to print an additional tier one (AT1) bond in Asia ex-Japan. The Korean lender was able to achieve the lowest coupon globally for an AT1 deal but sparked criticism that it was too aggressive with pricing and risked shutting the bank capital pipeline from the country, writes Narae Kim.
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Just three months after paring down its ownership in Indian automobile manufacturer Eicher Motors, Swedish truck maker Volvo Group has exited via a Rp17.2bn ($268m) deal that proved popular but was severely hit by slippage.
