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Reframing inflation might produce a more palatable number but is not always a great idea
Maxima and České dráhy are prepping euro notes
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Saudi Aramco, the world’s largest oil company, is hunting for a $10bn loan, according to market sources. Plummeting oil prices will send borrowers across the Gulf scrambling to raise financing. But creditors seem happy to plough money into the region, for now. Mariam Meskin reports. -
Tianqi Lithium Corp’s rising debt burden since its acquisition of a stake in a Chilean mining company two years ago is causing trouble. The Chinese borrower is seeking covenant waivers and a tenor extension on part of a $3.5bn loan, raising concerns among bankers about the performance of other commodity credits amid the Covid-19 pandemic. Pan Yue reports.
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Malaysian sovereign wealth fund Khazanah Nasional is in the market to offload a chunk of Tenaga Nasional shares. It is looking to raise up to MR910.2m ($208.8m) from the block.
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The Republic of Hungary made a jumbo return to euro markets on Thursday with its first hard currency trade since 2018. Bankers expect more trades from both the sovereign and its neighbours.
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Gemdale, a Chinese property company, raised the ire of investors this week when it cut the coupon on an outstanding bond by 379bp, despite documentation stating the coupon could only be increased. Rebecca Feng reports.
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India’s equity capital markets have welcomed a temporary loosening of rules around IPOs and rights issues, with bankers saying it could help push out deals as soon as market conditions stabilise. Jonathan Breen reports.
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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
