News content

Indonesian oil and gas company, Pertamina, has picked three banks for a potential bond and is set to hit the road to meet investors next week.

BNP Paribas dipped into the US dollar market on Monday, meeting its tier two funding requirement for this year in the process. Jubilant markets on the day enabled the issuer to print with just a 4bp new issue concession.

Cyfrowy Polsat, the Polish television company, has signed a loan for Z12.5bn ($3.3bn) with 20 banks, which it claims is the largest ever corporate loan facility in zlotys.

Emerging market bonds were locked in a sell-off on Tuesday as the market fretted over the US Federal Reserve’s blame for EM forcing it to hold rates, poor data from China, and even the revelations around Volkswagen.

Société Générale navigated a change in market sentiment on Tuesday when pricing its latest dollar additional tier one (AT1). Softer markets meant the issuer was forced to offer a premium over rival bank bonds.

Coal miner Adaro Energy Indonesia is speaking to its relationship banks about refinancing existing debt, and is planning to send out a request for proposals next week.

The IMF’s Christine Lagarde has urged Ukraine’s creditors to vote in favour of restructuring resolutions at a series of meetings the Ukrainian government has scheduled for October.

Albania has set roadshow rates ahead of its second ever Eurobond.

China has taken a huge step forward with the liberalisation of its capital markets this week following the announcement that Bank of China Hong Kong (BOCHK) and HSBC have been approved by the People’s Bank of China (PBoC) to become the first foreign banks to issue Panda bonds.

The European corporate bond market started the week in cautious optimism, but this had petered out by Tuesday.

As expected, a wave of new initial public offerings have come to market since the US Federal Reserve’s interest rate decision last Thursday.

Conditions across both euros and dollars are as healthy for public sector borrowers as they have been for several weeks and, while issuance was low this week, bankers are confident that volumes will grow.