Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
Even as USTs stay near 5%, supply expected to pick up
Elevated new issue premiums to battle issuer desire to avoid more volatility
◆ The threat of US corporate issuance to European borrowers ◆ The new funding environment for Middle East banks ◆ Reviving UK equity capital markets
As war drags on, banks are boosting hoards of cash after deposit outflows
More articles/Ad
More articles/Ad
More articles
-
Lender’s book was nearly three times oversubscribed, despite opening in London -
US inflation reading later this week will be the first major test for the EM primary market this year
-
International banks are finding it harder to stomach the prices local rivals can offer
-
Context and market conditions are always important when considering the merits of any new issue, but this was particularly the case in 2022, given how volatile markets were. Every CEEMEA issuer had to pay a high all-in price to get their deal away, and new issue premiums varied between issuers. EM issuers faced the toughest conditions in many years during 2022. The Russian invasion pushed investors to flee from riskier assets. The war had practical effects too: disruption to energy and food supplies sent inflation soaring and the resulting interest rate rises meant borrowing costs jumped sharply for CEEMEA issuers. New issue volumes dropped from 2021, particularly among CEEMEA corporates. By George Collard and Oliver West.
-
The real estate firm has swapped an unsecured sukuk for secured debt
-
After a calamitous year in EM bonds, market participants are wary of predicting how the next 12 months could play out. Few foresaw the war in Ukraine — and even fewer the Covid pandemic, which influenced volumes for the two previous years. But there is some hope of normalisation in 2023, as GlobalCapital’s poll of bankers and investors shows. By Francesca Young.
