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A double digit premium to the dollar curve lured in overseas buyers, who took a 'large chunk' of the bonds
Investors have lots of cash and are eager for new issuance
Investors are keen for new bonds and better rated borrowers may not want to issue in numbers
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The US Treasury’s targeting of Rusal in its latest round of sanctions was far from the random hit that investors are claiming. The US has demonstrated its power over the dollar-based financial system — and it has no need to do further damage. -
Consol, the glass bottle maker, moved ahead with its IPO on Monday by setting a price range. It is hoping to return to the Johannesburg Stock Exchange (JSE) at a positive moment for South Africa.
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Kazakhstan’s national oil company Kazmunaygas, rated Baa3/BB-/BBB-, has released initial price guidance for its dollar senior unsecured triple tranche 2025, 2030 and 2048 issue.
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Turkish real estate developer Ronesans Gayrimenkul Yatirim has set the tenor on its benchmark dollar bond at five years, and is expecting to print the note “as early as tomorrow”.
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United Arab Emirates based Noor Bank has launched its five year Reg S sukuk at 165bp over mid-swaps, with order books over $1bn, including joint lead manager interest.
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After the Qatari sovereign launched its $12bn triple tranche return to the bond market last week, Mannai Corporate, a conglomerate from the country, is following it into the market this week. Mannai is looking to print a senior perpetual non-call five Reg S only dollar bond. It will be the company’s debut in the bond market.
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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
