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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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Hong Kong’s stock exchange took a progressive step in 2018 when it allowed pre-revenue biotechnology companies to list. But the initial excitement was short lived, with the stocks’ dismal performance in the aftermarket denting sentiment among issuers, bankers and investors. Will the tide turn for the sector this year? Jonathan Breen investigates. -
Stricter financial disclosure rules, a corruption scandal and a global equity market selloff derailed what should have been a big year for South Korean IPOs last year, leading to three of the biggest transactions being postponed. There are reasons for hope, but the country must overcome some serious structural challenges. Aidan Gregory reports
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A bond market keen for duration welcomed pulp and paper producer Klabin’s dual-tranche offering this week, but a stormy atmosphere for Brazilian names put the new issue concession higher than recent deals as investors began to seriously doubt the country’s economic prospects.
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The Peruvian subsidiary of Spanish group Telefónica will begin investor meetings on Thursday as it plans what would be the first ever global nuevo sol deal from a non-financial Peruvian corporate.
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Fitch has slashed the rating of Mexican textiles company Kaltex by three notches to CC, warning that the issuer could soon look to restructure its $320m senior unsecured notes maturing in April 2022.
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Telecoms company Cable & Wireless, which operates mostly in the Caribbean, added $300m to its longest dated bond on Wednesday in a deal that received strong backing from US high yield buyers.
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Sponsored by CAF – Development Bank of Latin America and the Caribbean
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