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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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Generals, and financial regulators, are always fighting the last war. So it proved when the coronavirus slammed into international markets in mid-March. Many of the tools developed in the 2008 financial crisis were deployed to great effect by central banks. The corners of the financial markets that propagated weakness in 2008 passed the test of 2020. But new risks were thrown up, forcing a new round of improvisation. What lessons will be drawn from the Covid-19 crisis?
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Sovereigns are making the most of a bounce in demand for CEEMEA bonds after the coronavirus pandemic and oil shock sent markets into a tailspin earlier this year. They have extra spending to fund, but with QE on the rise investors have cash to place. But other pandemic policies have left parts of CEEMEA capital markets moribund. -
Central and eastern European countries have pushed to be considered in the same light as those deemed more developed on the continent for years. Their handling of the coronavirus pandemic, including debuting quantitative easing, shows such monetary weaponry — and the burden it brings — is no longer the preserve of developed markets.
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Jorge Masalles Sarragúa has become chief executive of Commerzbank Iberia, as the previous occupant heads to perform the same function for Hungary.
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Slovakia's Vseobecna uverova banka (VUB) will offer covered bond investors a rare chance to buy bonds with a considerable pick-up to core European deals, having mandated leads for a €500m five year deal rated Aa2 that is expected to be launched on Tuesday, subject to market conditions which have recently deteriorated.
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The Islamic Development Bank (IsDB) has mandated for a sustainability sukuk, half a year after making its socially responsible investment debut with a green bond. It will use the proceeds to support Covid-19 relief efforts.
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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
