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Tight price and strong book reported as market awaits geographic breakdown
More deals are expected later in the week
The new issue premium was, at most, 10bp
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Argentine bonds rallied on Monday after the government surpassed expectations with a new debt restructuring offer. But markets are still waiting on the reaction of the largest bondholders, as Argentina had abandoned negotiations ahead of its updated offer. -
While Argentina’s back-and-forth attitude to debt negotiations means it still has not reached a deal more than three months after the deadline it had set itself to wrap up the process, Ecuador’s decision to keep investor relations as cordial as possible could see it rewarded with a remarkably swift restructuring of its bonds.
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Shinhan Financial Group raised $500m from a Covid-19 resilience social bond on Monday, finding support from investors keen to buy deals sold to help businesses and people impacted by the pandemic.
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Brazilian mining giant Vale returned to bond markets after a three year absence on Monday with a 10 year bond that bankers said left investors hungry for more.
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Online mobile game developer Archosaur Games is set to price its HK$2.17bn ($280.5m) Hong Kong IPO at the top of guidance, said a source close to the deal.
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New Development Bank sealed its second Panda bond of the year on Monday. Despite coming out on a ‘miserable’ day for China’s domestic debt market, support from Chinese banks helped the multilateral development bank price a tight deal.
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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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Sponsored by European Investment Bank
European Investment Bank: Supporting sustainable development in North Africa
