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Secondary market selling of private bonds may be wreaking havoc with the primary market for public debt but the trades were still the right thing to do
Sovereign's $3bn deal tightens well as Asian demand returns
The sovereign's public and private bonds of similar maturities are trading over 25bp apart
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Tencent Holdings this week sold the largest dollar bond by an Asian issuer in more than a year, offering a five tranche deal that spanned five to 30 year maturities. In doing so, it also managed to achieve one of the flattest 10-30 year curves for a technology company new issue, writes Addison Gong. -
The Arab Republic of Egypt has released initial price guidance for its dual tranche euro bond at levels that two lead managers said were around 40bp back of its curve.
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China’s Changliao Inc., which owns platform Paipai, has filed a prospectus, seeking a listing in Hong Kong.
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A cluster of large pan-African companies are exploring listings on the London Stock Exchange, but many have delayed their plans because of political risk in both Africa and the UK.
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Credit Bank of Moscow (CBM) has refinanced a $400m loan, raising $500m. While the deal was oversubscribed, bankers still have little hope of a sustained increase in Russian syndicated lending, which some have called a barren market.
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Mongolian Mining Corp raised $440m with a new 2024 bond this week, in a sale that ran in tandem with a tender offer for the coking coal producer’s two existing dollar bonds.
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