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The bank tightened a little more than a UAE peer did on Tuesday
The euro tranche is a refi of a bond maturing later in September
Proceeds expected to go towards growth, including expanding what the company says is Africa’s biggest refinery
Data
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GEMS Education hit the market on Tuesday for a $1.65bn financing package for CVC’s purchase of a minority stake in it. The loan margin had to be widened and the euro tranche of the bond was dumped in favour of extra dollar debt, but the bond is trading strongly in the secondary market. -
Despite enthusiasm for emerging market bonds still reigning as looser US monetary policy outweighs all other fears, investors and analysts are starting to wonder when the party will end.
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South Korean digital display manufacturer LG Display has bagged W813.6bn ($687.8m) from a convertible bond, according to a term sheet seen by GlobalCapital Asia.
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China Aoyuan Group was back in the dollar market on Tuesday, adding another $250m to its 2023 notes.
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China Construction Bank (CCB), the largest originator of residential mortgage backed securities in China, is returning to the market with a Rmb9.87bn ($1.43bn) four tranche deal on August 6. All three senior tranches are rated triple-A by S&P Global Ratings.
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South Korea’s sustainable financing efforts were given a boost this week, after Lotte Property and Development Co sold a $300m bond.
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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
