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UzNIF offers cross-section of Uzbek economy in biggest London IPO for five years
Deal liberates capital and tempts investors to take new frontier market risk
Deal's concession came to just a few basis points
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The Shanghai Stock Exchange scrapped a record 26 corporate ABS deal applications this week. They included Rmb18bn ($2.82bn) of deals from Ant Group’s two consumer lending units — seven months after the company’s landmark IPO was suspended. Addison Gong reports. -
Silicon wafer maker GlobalWafers raised $1bn this week from its debut in the equity-linked market, selling the largest convertible bond from a Taiwanese issuer in more than a decade.
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Thailand’s Charoen Pokphand Group, which tapped the loan market for a $7.2bn bridge loan last year to acquire retail giant Tesco’s Asia business, is now seeking covenant waivers on the fundraising. The move — which bankers say is triggered in part by CP’s plan to offload some of its newly-gained stake in Tesco — has hurt lenders’ confidence in the Thai conglomerate and raised questions around its strategy. Pan Yue reports.
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The Dominican Republic is likely to return to bond markets shortly with a local currency deal, after launching a tender offer for old bonds that is contingent on a new issue. Citi and JP Morgan are managing the liability management exercise — their fourth consecutive mandate with the Caribbean sovereign.
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Aija Zitcere, director in the financial markets policy department of the Latvian Finance Ministry and her colleague, Imants Tiesnieks, a senior expert in the same department, discuss the main features of Latvia’s covered bond law, which was approved by its Parliament on Wednesday.
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A Dutch court has ruled that Royal Dutch Shell is partly responsible for climate change and must reduce its global carbon emissions — including those caused when customers burn its products — by 45% from 2019 levels by 2030. If the ruling is sustained on appeal it would cause a seismic shift in the balance of power on climate change, with huge implications for financial markets.
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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
