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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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Saudi Arabian banks Alawwal Bank and Saudi British Bank have completed their merger. The deal is yet another bank tie-up taking place in the Gulf, as lenders strive to stay competitive. Royal Bank of Scotland, which held a stake in Alawwal, has received capital relief from the transaction.
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Shares in Huatai Securities, the Chinese brokerage, rose as much as 12% on Monday morning after the company’s global depositary receipts began trading in London via the London-Shanghai Stock Connect programme.
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A group of US senators have proposed a bill that threatens to block the IPOs of many Chinese companies in the country, and cause the delistings of mainland stocks from US exchanges.
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Moody’s took the axe to Turkey’s credit rating after market close on Friday, cutting the sovereign’s rating from Ba3 to B1 in a move that has raised hackles from some international investors.
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The Republic of Angola has signed a €1bn credit line from Deutsche Bank to fund private investment projects in the country. The deal is part of a wider trend of increasing funding support for the country’s growing private sector.
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Emerging market bankers forecasted on Monday a spate of deals from across the EMEA region due this week, as Sharjah Islamic Bank joined the fray with a sukuk mandate that will begin with a spell of investor meetings.
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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