Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
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Five year bond set to be priced much tighter than the development bank's last senior issue
Investors were eager to tender their bonds despite initial resistance
Inclusion of a variable rate instrument was not acceptable to official creditors
Oil producer's cost of funding has fallen hundreds of basis points since February
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African Export-Import Bank (Afreximbank) started signing banks to join its third syndicated loan of the year this week. African multilateral banks have raised more in syndicated loans in 2016 than in any other year, according to Dealogic. -
In this round-up, the Hong Kong Stock Exchange saw surges in trading of offshore RMB (CNH) futures, BMO became the first Canadian bank to become market maker for CAD-RMB direct trading, and the country of Djibouti is launching a Silk Road Bank. Plus a recap of GlobalRMB’s top stories this week.
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Caa1 rated Banque Misr is syndicating a loan with a longer than usual tenor of five years, though a guarantee from the Egyptian central bank will help drive demand, according to two bankers away from the deal.
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Daily portfolio flows to emerging markets have fallen since the US election, with the seven day moving average declining to its the lowest level since August 2015, according to the Institute of International Finance.
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Bayer, the German life sciences group, picked Tuesday night to launch the first part of its $19bn equity financing for its $66bn takeover of Monsanto. Bayer's deal comes as equity markets are revitalised by the new conviction that Western policy is shifting to reflation.
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Shares in Dis-Chem Pharmacies, the South African retail pharmacy group, closed 16% above their offer price on their debut on Friday, after the company had raised R4.38bn ($305m) by pricing its IPO slightly above the middle of its range on Monday.
