Euro
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The Ministry of Finance of the Lao PDR is inviting banks to join a €135m five year loan that Credit Suisse pre-funded in June. -
Oesterreichische Kontrollbank hit screens on Tuesday with its first ever sustainability bond, raising €500m with an eight year benchmark.
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Montenegro came to market on Thursday for its first ever 10 year bond. Demand for the euro deal proved strong enough for the issuer to raise €500m and allowed the leads to set the yield roughly flat to fair value.
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Kommuninvest kicked off the dollar market this week with a $1.25bn blowout, despite it being at record tight levels over Treasuries, according to a banker on the deal. Following on from Kommuninvest’s deal, a wide range of SSAs look to print across the curve, including rare issuer IDB Invest with its five year dollar bond debut.
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The Republic of Kazakhstan and the State of Montenegro have mandated for the first euro bonds from the CEEMEA region since the market re-opened in September.
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The order book for Emaar Properties’ 10 year sukuk had hit around $1.85bn by Tuesday morning, but the issue size will be capped at $500m, according to a DCM banker on the deal.
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Holders of the defaulted EA Partners bonds claim that Etihad Airways and Abu Dhabi gave them implicit guarantees for the notes, which were issued to fund other troubled airlines. The bondholders, backed by restructuring advisers and corporate sleuths, are buckling up for a battle for their money. Karoliina Liimatainen reports.
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CK Hutchison Holdings has launched a takeout deal into syndication to replace a €10.4bn bridge loan raised by Wind Tre, an Italian company it acquired last year.
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Auckland Council appointed banks on Monday to arrange a roadshow for a euro benchmark with an intermediate to long maturity, in what will be its first bond in the currency since 2017
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Beijing Automotive Group (BAIC) has thrown open a €2.2bn-equivalent loan to support its acquisition of a minority stake in German automaker Daimler.
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India’s plan to sell its first international bond has been caught in a battle of wills between the ministry of finance and the government. While any issuance is likely to be received well by the market, the sovereign should hold off on a deal until it is ready to present a united front to investors.
