Ukraine is approaching a crucial moment in its financial history as a court decision nears on the future of one of its largest commercial banks that will determine the course of foreign investment in the country.
Saudi Arabia has completed the largest IPO ever, the listing of its economic crown jewel, the oil producer Saudi Aramco. However, a deal sold almost entirely to local investors was a missed opportunity to secure international backing for crown prince Mohammed bin Salman’s Vision 2030 plan for the country, writes Sam Kerr.
US president Donald Trump effectively closed primary bond deal flow for the year for emerging market borrowers this week by threatening tariffs on Argentine, Brazilian and French exports and indicating that a US-China trade deal may not be inked until next year.
Market participants expect Uruguay’s new centre-right government to tighten fiscal policy, but rating agencies believe doing so will prove a difficult balancing act.
The chairman of UkraineInvest, a body set up to promote investment in the country, castigated the rating agency Moody’s on Monday over its cautious approach to upgrading the sovereign from a C rating, asking if the firm had an institutional bias against Ukraine.
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HSBC’s anticipated cuts to its global banking and markets (GBM) division may make sense. But they will not be easy to pull off smoothly.
IHS Markit and Tadawul, the Saudi Stock Exchange, are forming a partnership to create indices for Saudi Arabia’s local currency bond and sukuk markets.
Polite, sincere, with a swift wit, David Pepper had a huge presence in Europe's syndicated loan market.
| Rank | Lead Manager | Amount $bn | No of issues | Share % |
|---|---|---|---|---|
| 1 | Citi | 56.43 | 299 | 8.15% |
| 2 | HSBC | 53.13 | 412 | 7.67% |
| 3 | JPMorgan | 51.14 | 268 | 7.39% |
| 4 | Standard Chartered Bank | 36.51 | 302 | 5.27% |
| 5 | BNP Paribas | 27.62 | 155 | 3.99% |
Ukraine is approaching a crucial moment in its financial history as a court decision nears on the future of one of its largest commercial banks that will determine the course of foreign investment in the country.
Saudi Arabia has completed the largest IPO ever, the listing of its economic crown jewel, the oil producer Saudi Aramco. However, a deal sold almost entirely to local investors was a missed opportunity to secure international backing for crown prince Mohammed bin Salman’s Vision 2030 plan for the country, writes Sam Kerr.
State-owned airline Dubai Aviation Corporation, known as flydubai, has refinanced its debut sukuk into a term loan — a rare win this year for the loan market, which has declined while attractive issuance conditions boost DCM volumes.
Brait, the troubled South African investment company, managed to issue a £150m five year convertible bond on Wednesday, an essential piece of its restructuring plan, which includes a new strategy, a recapitalisation, including a rights issue, to repay debt and the sale of two UK assets.
Banco Daycoval looked set to become the second Brazilian lender to price a five year senior unsecured bond after setting guidance on Thursday afternoon, as markets appeared to shrug off US president Donald Trump’s latest tariff threat.
GDS Holdings raised $250m from a follow-on offering of new shares on Thursday, according to a term sheet seen by GlobalCapital Asia.
