The Arab Republic of Egypt this week proved that emerging market bond investors will still part with their cash even at this stage in the year if the deal is right, while at the same time proving that ultra-long dated bond funding is open to emerging markets issuers.
Flourishing conditions in the sukuk market stepped up another gear this week as Qatar International Islamic Bank priced an additional tier one bond that one of its leads claimed was the tightest ever such trade from the Gulf Cooperation Council states.
Mexican cement company Cemex attracted nearly $4bn of orders on the way to a first dollar deal in three years on Tuesday. Bankers said the company’s active debt management was gaining a strong following.
South American development bank Corporación Andina de Fomento said that 61% of orders for its inaugural green bond in public markets, issued on Wednesday, had come from environmental, social and governance (ESG) and green portfolios.
The Republic of Angola kicked off a roadshow on Thursday for a two tranche dollar bond trade comprising 10 and 30 year bonds.
The Arab Republic of Egypt pulled in $14.5bn of demand for its $2bn triple tranche bond deal on Wednesday, in a trade that was priced well inside the sovereign's curve.
This month, Jim O’Higgins is to retire after 15 years at ICBC Standard Bank.
Mexican retailer Grupo Famsa has pushed out the early-bird deadline on a distressed debt exchange, saying it wants to give bondholders more time to analyse its proposal.
Islamic Development Bank has spurred momentum in the green sukuk market, as it announced its debut, a euro deal, in the format this week.
RusHydro will return to the international bond market for roubles with a deal that will likely take 2019’s total issuance in the format above last year’s total.
Ghanaian cocoa marketing agency, Ghana Cocoa Board (Cocobod), has signed a $600m loan from supranational and international lenders. The deal is Cocobod's third syndicated loan this year.
Brazilian steel producer Gerdau could return to the international bond market this week for the first time in over two years, looking to take advantage of strong performance in its bonds and positive sentiment surrounding Brazil.
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Saudi Aramco released an initial IPO prospectus on Sunday and some, mainly in the mainstream financial press, were outraged that it contained no details on price or deal size. However, a full two week investor education process is a perfectly normal feature of IPOs and the fact that Aramco is doing its deal by the book is a good thing.
A team of investors have moved from NN Investment Partners to William Blair Investment Management, after NNIP changed its responsible investing strategy for emerging market debt.
In a marathon board meeting that lasted into the evening on Thursday, EU member states have approved a new Energy Lending Policy for the European Investment Bank, ending a dispute over how fast it can cut out fossil fuel financing.
The International Finance Corporation returned to the Czech koruna bond market after a 21 year absence this week to place the largest SSA deal in the currency since 2015.
Flourishing conditions in the sukuk market stepped up another gear this week as Qatar International Islamic Bank priced an additional tier one bond that one of its leads claimed was the tightest ever such trade from the Gulf Cooperation Council states.
Islamic Development Bank has spurred momentum in the green sukuk market, as it announced its debut, a euro deal, in the format this week.
Some Brazilian bankers may be dumbfounded that their country and its highly unpopular president is considered a safe haven, but hope that Latin America’s sleeping giant is on the cusp of an upswing is driving demand for the country’s issuers amid social unrest elsewhere in the continent.
New York Stock Exchange-listed online gaming company Sea has bagged $1bn from its second tap of the equity-linked market.
