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◆ Gulf private placements bite back ◆ Bond new issue premiums rise ◆ CLOs catch a break
Business has sagged in the third quarter, but the pipeline is busy, despite an intractable war
Private bonds are now being offered in the open market wider than where public deals trade
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Thailand’s Strategic Hospitality Extendable Freehold and Leasehold Reit is set to launch a Bt3.96bn ($120m) sale of new units next month. -
The Asian equity-linked market had a rare treat last week when Country Garden Holdings sold a convertible bond using a call spread feature. Its success has ignited hopes of more such deals, but ECM bankers and issuers should be wary of mixing dreams with reality.
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Odebrecht Engenharia & Construçäo finally admitted defeat in its attempt to avoid default on Monday, as it acknowledged it would not be making a $11.5m coupon payment due on its $519m of 4.375% bonds due 2025, paving the way for a restructuring.
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India’s Power Finance Corp has invited banks to bid for a new five year financing, in its second visit to the syndicated loan market in 2018.
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Bonds issued by central American sovereign Costa Rica rallied as much as four points on Monday after the country's constitutional court gave investors a positive surprise, approving fiscal reform that should improve market confidence in the borrower.
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Colombo-Canadian oil company Frontera Energy managed to persuade 91.16% of its creditors to approve an amendment in its bond indenture that will allow it to make larger payments to shareholders.
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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
