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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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Czech gaming company Sazka, with lottery operations around Europe, debuted in the euro market on Tuesday with €300m of senior unsecured notes, priced at 4.125%. -
A new drive is being launched by investors in London today to persuade companies to root out modern slavery in their supply chains. The quest will be hard in two ways: firms will risk bad publicity if they find slavery; and investors are unlikely to make money out of the work.
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Ghanaian cocoa agency, Ghana Cocoa Board (Cocobod), will raise a $600m loan from supranational and international lenders. The deal is Cocobod's third syndicated loan this year.
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RusHydro will return to the international bond market for roubles with a deal that will likely take 2019’s total issuance in the format above last year’s total.
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Saudi Aramco released an initial IPO prospectus on Sunday and some, mainly in the mainstream financial press, were outraged that it contained no details on price or deal size. However, a full two week investor education process is a perfectly normal feature of IPOs and the fact that Aramco is doing its deal by the book is a good thing.
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Egypt is in market promoting a new deal: three tranches of benchmark dollar funding. Its 40 year tranche will be Egypt’s longest ever deal.
Sub-sections
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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
