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State-controlled company is seeking further financing after surge in jet fuel prices
Largest of three IPOs in Turkey struggles to get covered, smaller ones multiple times oversubscribed
Omani oil company has pushed out maturity by a year
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Sasol, the South African chemicals company, has unveiled a $6bn package of measures designed to shore up its business, which has been damaged by the spread of the Covid-19 virus and the collapse in oil prices.
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The Asian Infrastructure Investment Bank re-opened its headquarters in Beijing on Monday after being shut for weeks as a result of the outbreak of the coronavirus, which began in China but quickly spread across the world.
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Some DCM bankers have started pitching bond buybacks to EM issuers after the sharp fall in bond prices, but there has been no uptake yet as despite expected slower growth, borrowers are reluctant to spend money when they have no confidence of regaining market access in the coming months.
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Redemption requests have are hitting EM bond fund managers fast this week, making some of the opportunities created by extreme market volatility hard to seize.
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Oman’s Bank Muscat, which is part-owned by the Sultanate of Oman, raised a $650m loan from international lenders. The loan was announced amid Moody's downgrading the bank and the Omani sovereign, the latest in a string of rating actions that have pushed the challenged Gulf nation into junk territory.
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Latin America bond issuers and investors were thrown deeper into the coronavirus crisis on Monday, with Friday’s spread tightening more than cancelled out as the US Federal Reserve’s surprise 100bp rate cut on Sunday failed to arrest a fall in risk assets.
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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