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The bank tightened a little more than a UAE peer did on Tuesday
The euro tranche is a refi of a bond maturing later in September
Proceeds expected to go towards growth, including expanding what the company says is Africa’s biggest refinery
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China’s substantial liberalisation of its onshore capital market has given a new lease of life to the internationalisation of the RMB. But if the RMB is to succeed as a truly global currency, China must reverse measures introduced three years ago, provide access to hedging as well as liquidity and risk-management instruments, and eventually allow its currency to float. Paolo Danese reports.
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Has a country’s financial and capital market ever transformed as quickly as China’s has in the last year or so? From the launch of the Bond Connect scheme to the long overdue destruction of barriers to foreign ownership of banks, insurers and rating agencies, China has made dramatic steps to open up to the world.
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Mexican home appliances company Controladora Mabe is looking to buy back bonds due next year as Latin American companies continue to focus on liability management.
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Afreximbank was able to launch a $500m five year dollar transaction, pulling in the spread despite what a banker at one of the leads called 'choppy conditions'.
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Romania was able to cut the spreads on both tranches of its euro benchmark on Thursday.
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Singapore dollar bond issuance came back to life in the third quarter of this year, setting the stage for a further ramp up in activity.
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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