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Meanwhile, LatAm sovereign announces mandate for a multi-tranche deal that could come next week
Sovereign closed 'remarkable' deal despite US Treasury pricing drama
Big, volatile week in EM raises questions around fair values
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Web browser Opera has bagged $115m from its Nasdaq IPO after a flood of demand made top-end pricing a certainty, according to a source close to the deal. -
A new dawn has broken for RMB business in Japan, as the country prepares to launch its first RMB clearing bank and a local currency swap line with China. For now bankers are focusing on new renminbi investment quotas, which could mobilise the vast pool of Japanese household assets to tap onshore Chinese securities.
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The IMF appears to have taken a cue from the Trump administration in its China country report published on July 25. The report made little effort to smooth over the urgent need for China to open up its economy and move forward with a restructuring of its regulatory setup.
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Engineering and construction company Andrade Gutierrez, one of the largest contractors in Latin America, is asking bondholders to push out a 2018 bond maturity that it failed to pay on April 30, with analysts expecting a majority to accept.
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Brazilian telecoms company Oi is expected to release its new bonds — the product of a restructuring — on Friday. So highly anticipated are the notes that they have been exchanging hands way over par even before they were issued.
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South Africa’s troubled state-run power company, Eskom, signed a $2.5bn loan from China Development Bank (CDB) this week, securing almost two-thirds of its funding requirements for the financial year and reviving hope among investors that the country’s state-owned companies have moved one step closer to returning to the capital markets. That wish was swiftly granted by Eskom mandating for its first bond since 2015. Mike Turner and Francesca Young report.
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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
