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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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ING has put an emerging markets debt capital markets banker at risk of redundancy after nearly 18 years of service at the bank. -
Slovenská sporiteľňa’s first euro benchmark covered bond attracted strong demand from investors on Wednesday reflecting the transaction’s tempting returns in a largely negative yielding market, as well as its top credit rating.
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Magnitogorsk Iron and Steel Works (MMK), the second largest steel producer in Russia, released price guidance for a $500m five year bond on Wednesday at a level that one EM investor said looked “interesting”.
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Jerome Powell, chair of the US Federal Reserve, hinted at rate cuts to come on Tuesday night. Emerging market investors thought the talk may be premature, but could see the upside of the continuing trade war tensions: low Treasury yields and a dovish Fed.
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Investors piled into Guangdong Energy Group’s inaugural offshore bond issue, allowing the single-A rated power supplier to price the trade from an over eight times covered order book.
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Dubai’s Emirates NBD is making a quick return to the offshore loan market, inviting banks to bid for an up to $400m term loan.
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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
