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Investors were eager to tender their bonds despite initial resistance
Banker had been with Dutch lender for just over a year
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European asset manager Amundi is launching an open-ended fund for institutional and retail investors that will buy hard currency green bonds issued by emerging markets issuers. -
Syndicated lending volumes, particularly across emerging markets, have tumbled since the onset of the coronavirus pandemic last year. Though some had hopes that 2021 would yield more activity for lending desks, that optimism has been postponed to next year, as lenders say they simply cannot compete with other asset classes for business.
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Česká zbrojovka Group (CZG), a Czech firearms company, has mandated banks to arrange a local currency bond, which investors say is a developing trend. The bond will contribute to CZG’s planned acquisition of US arms major Colt.
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Fix Price, the Russian owner of discount variety stores, filed initial paperwork for listings in London and Moscow on Monday. The company gives investors a very different sort of offering than recent European tech listings but is still providing buyers with huge growth metrics.
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Entre Ríos, the only Argentine province to have faced legal proceedings as a result of the past year’s wave of bond defaults, looks set to avoid a legal battle after reaching a restructuring agreement with the creditors that had pursued it in a US court.
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Peruvian mining company Volcán said on Saturday that holders of around two thirds of its $535.264m 5.375% 2022 bond had participated in a tender offer for the issue. But the borrower will only accept 35.5% of the amount tendered, and will use the majority of the proceeds of its recent five year bond issue to pay back a bank loan also maturing next year.
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