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Most of the demand came from local investors, as one banker expected
Price was 'way off' fair value, according to a source on the deal
Issuer closes its first overseas trade since Moody's downgrade in May
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Confidence in Turkish assets hit fresh lows this week as investors struggled to digest a fresh wave of volatility after its central bank governor was sacked following an interest rate hike. With government and bank funding needs to be met in the international market, the Central Bank of the Republic of Turkey has a big job on its hands in regaining investor confidence — though some say the damage has already been done. -
Belfius cancelled a consent solicitation for one of its tier two bonds this week after the Single Resolution Board took the market by surprise and broadened the scope of its grandfathering period for ‘Brexit bonds’.
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Nigerian oil and gas exploration and production company Seplat Petroleum entered the international bond markets on Thursday seeking to raise dollar funding. As primary issuance re-starts in the CEEMEA region, Seplat is one of a few high yielding names testing the temperature.
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The US securities regulator has introduced rules that would delist foreign companies from local stock exchanges if they do not comply with US auditing standards. Shares in Chinese companies dual listed in Hong Kong and the US dived following the move.
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Indian companies have churned out listings rapidly, giving the country’s IPO market its busiest start to the year in more than a decade. The volume has so far been driven by small deals, but large transactions are now looming. Jonathan Breen reports.
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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
