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Kevin Warsh's speech at Jackson Hole has pushed up borrowing costs for dollar issuers
◆ Three year creates another point on curve ◆ €750m was target, Leumi’s deputy CEO said ◆ Strong market reopening after summer lull gave confidence
A double digit premium to the dollar curve lured in overseas buyers, who took a 'large chunk' of the bonds
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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. -
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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Chinese issuer Shandong Ruyi Technology Group Co missed an interest payment on a Rmb1bn ($143m) domestic bond on Monday, just days after holding a bondholder meeting.
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The Philippine Stock Exchange suspended all trading on Tuesday, after the country’s president announced stricter coronavirus quarantine measures for Luzon, the northern island home to the capital Manila.
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Xinjiang Guanghui Industry Investment (Group) Co has priced $59m of new bonds as part of an exchange offer. It received lukewarm response for the transaction, with existing investors of less than a fifth of the original deal agreeing to roll over.
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Ping An Bank has stepped up in the offshore loan market, launching its first deal on a sole basis for Shandong Energy Group.
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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
