LatAm Bonds
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Greek debt sank further into distressed territory this week as confidence in the country’s ability to survive its fiscal crisis fell to new lows and some banks pulled back from making markets in its bonds. And the contagion is spreading to other European sovereigns.
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The International Finance Corp spearheaded $11bn of sovereign, supranational and agency dollar supply as markets this week took heart from the Greek rescue package announced by the EU at the weekend.
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Greece endured another chaotic week in the capital markets by the end of which it looked likely to postpone plans to visit US debt investors and instead take the final step in triggering eurozone and International Monetary Fund aid.
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Galaxy Entertainment Group has agreed a HK$8.8bn ($1.1bn) club loan to finance the completion of Galaxy Macau, its flagship casino resort, as well as to increase its financial flexibility and lengthen its maturity profile.
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The prospect of Greece having to fall back on bail-out funding from European governments and the International Monetary Fund loomed closer this week with leading investors pushing for a clear plan of action as contagion fears multiplied.
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