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A double digit premium to the dollar curve lured in overseas buyers, who took a 'large chunk' of the bonds
Investors have lots of cash and are eager for new issuance
Investors are keen for new bonds and better rated borrowers may not want to issue in numbers
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In recent weeks, Argentina’s public relations agency has been cramming the inboxes of financial journalists as the government goes on the attack in an apparent attempt to guilt-trip dissenting creditors into accepting its restructuring offer. -
Falls in the Turkish lira have reignited concerns about a currency crisis this week, with the Central Bank of the Republic of Turkey’s (CBRT) unorthodox exchange rate policy raising questions from investors about the robustness of the country’s respected banking sector. Mariam Meskin and Ross Lancaster report.
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Electric vehicle manufacturer Li Auto sealed a scorching $1.1bn Nasdaq IPO this week, pricing above the marketed range to make it the largest US listing by a Chinese company in nearly two years. The deal proved there is still interest among mainland firms to list in the US, despite rising hostilities between the two countries, writes Jonathan Breen.
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Two Indian companies have struggled to find demand in syndication for deals that were priced before Covid-19 shut down the country. But bankers are optimistic about the fate of India’s offshore loans market — as long as borrowers accept a rise in funding costs. Pan Yue reports.
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A flexible approach to its $750m bond paid off for India’s Adani Ports and Special Economic Zone, which navigated weak market sentiment and demanding investors by changing its tenor, size and price expectations. Morgan Davis reports.
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China Development Bank has raised Rmb10bn ($1.43bn) from a domestic green bond that won international certification. The policy bank made the rare move to sell the deal in different primary markets simultaneously, a further step in the closer union between China’s two big onshore debt markets. Addison Gong and Rebecca Feng report.
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Sponsored by CAF – Development Bank of Latin America and the Caribbean
CAF gearing up to transform regional development
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Sponsored by Emirates NBD Capital
Emirates NBD Capital: An unrivalled conduit for Middle East liquidity
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European Investment Bank: Supporting sustainable development in North Africa
