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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 chief executive of Colombian development bank Financiera de Desarrollo Nacional (FDN) says he expects international lenders to provide a larger chunk of funding for the country’s flagship fourth generation (4G) road-building programme as local lenders recover from the Odebrecht scandal. -
Landlocked South American country Paraguay is looking at the possibility of creating a sovereign wealth fund as part of a possible adjustment of its fiscal responsibility law, deputy finance minister Humberto Colman Castillo told GlobalMarkets.
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Kuwait’s Burgan Bank has signed a $350m loan with a club of seven relationship banks to refinance borrowing done in 2015.
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Personal computer maker Lenovo priced a $750m deal on Thursday as part of a liability management exercise, switching some investors out of an old bond that will mature next year. But like others in the market, the borrower had to pay a double-digit new issue premium to ensure success.
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Shandong Iron & Steel Group Co and a Chinese government-owned entity from Xuzhou both took a cautious approach to their dollar bonds on Thursday in a market that has become increasingly volatile.
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Chinese regulators are cracking down on foreign currency trading, going after brokers who have flouted restrictions by operating in a legal grey area. GlobalRMB investigates.
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