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Issuer closes its first overseas trade since Moody's downgrade in May
Progress to bring down government deficit will be slow, warn economists
It will be better for all in the long run if Venezuela can prioritise domestic spending over debt repayments
◆ Venezuela embarks on historic debt restructuring ◆ Canada suggests covered bond boost ◆ European Secured Notes are here. Regulate them
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  • Colombo-Canadian oil and gas company Frontera Energy’s attempt to grant itself the power to make larger payments to shareholders is an aggressive move, said bankers as Fitch highlighted it would be a credit negative.
  • Bond market analysts say that the external financing required by Ecuador’s budget for 2019 will be a tough ask given existing market conditions, as the sovereign’s bonds slump amid a fall in oil prices.
  • South American development bank Corporación Andina de Fomento (CAF) is due to price to a first public dollar deal in a year on Thursday, having set price talk on Wednesday.
  • MetLife, the US insurance company, has made an unusual investment as part of its impact investment portfolio, which has about $200m of assets. It is providing a revolving credit facility to an impact investment fund, to enable it to cope more easily with redemptions.
  • Colombo-Canadian oil and gas company Frontera Energy’s attempt to grant itself the power to make larger payments to shareholders is an aggressive move, said bankers as Fitch highlighted it would be a credit negative.
  • Just over 100 days since Ivan Duque took office as Colombia’s president, the South American country has appointed a new head of public credit and national treasury.