Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
Saudi government-related bond issuance is 20% up year-on-year
The bank has a business model different to other Gulf issuers
Bond pricing for the mining company started about 43bp back of its parent
Sovereign wealth fund takes $2bn, as aimed at
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Bankers and investors saw the concession as low as zero but as high as 20bp -
Lender’s book was nearly three times oversubscribed, despite opening in London
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US inflation reading later this week will be the first major test for the EM primary market this year
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International banks are finding it harder to stomach the prices local rivals can offer
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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.
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The real estate firm has swapped an unsecured sukuk for secured debt
