Commerzbank

Public sector bond markets are under threat from violent price moves and low liquidity for months to come, warned SSA bankers, after government bonds sold off sharply on Wednesday.

Germany showed six years away from syndications had not left it rusty on Tuesday, as it aced a €2.5bn April 2046 that extended its inflation linked curve by 15 years.

Uralkali, the Russian potash fertiliser producer, has added a further $25m to a recent loan agreement, which it had already increased by $100m last week.

Despite a shortage of deals, leveraged loan investors are winning some battles against aggressive borrowers. The latest casualty is Schenck Process Group.

A first syndication from Germany since 2009 could be a reality this week — although syndicate managers on the mandate are still weighing up the health of the euro market.

Having successfully scouted for food last week, Loan Ranger and his trusty deputies Tonto and Silver upgraded their mission to a hunt for history and then treasure.

A difficult week for credit markets and a turbulent interest rate environment has left bankers divided on the prospects for corporate issuance in the near future — is it better to wait out the volatility, or hit the market before things get worse?

It has been an active week in the European private bespoke debt market, with Vroon agreeing a private placement while Hamburg Energienetze wrapped up a Schuldschein.

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.

African Export-Import Bank has nearly reached its target for a loan, having attracted $700m of commitments, and officials involved say there is more to come.

Ghana National Cocoa Board (Cocobod) has completed the early bird senior phase of its annual loan syndication with a strong oversubscription, said bankers involved in the deal.

The Finanzagentur is set to make its first appearance in syndicated format since 2009 with a 30 year inflation linker that will extend the sovereign’s inflation linked curve.