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Investors placed orders of over €3.5bn for ABN Amro’s long awaited debt additional tier one offering on Tuesday, proving the resilience of that asset class in what is once again a difficult market.
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Pubs on boats are probably not the first port of call for most City workers on a Friday night, particularly if that boat is moored halfway up the wrong end of the Thames.
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China’s National Development and Reform Commission (NDRC) this week released new guidelines for corporate offshore bond issuance. While the move is supposed to further simplify the process and relax the restrictions for issuers going offshore, the new rules have created a lot of uncertainty and led to fears that it will make bond issuance more difficult.
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Troubled Brazilian shopping centre owner General Shopping Brasil has launched a heavily discounted tender of its 10% senior perpetual notes in an effort to reduce its dollar debt, although Fitch says that a debt restructuring is “likely to occur in the near future”.
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The issuer formerly known as Pacific Rubiales fell just one notch away from triple-C status on Wednesday after Moody’s downgraded the borrower by three notches from Ba3 to B3 and kept it on negative outlook.
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The absence of sizeable IPOs on the Hong Kong Stock Exchange for nearly two months is about to come to an end, with lingerie manufacturer Regina Miracle set to launch its $200m deal next week.
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The US risks becoming “incredibly isolated” in its approach to securitization regulation, as Europe and potentially other regions implement standards for high quality securitization, delegates at IMN’s ABS East conference heard.
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A measure of calm is returning to energy commodity markets after a series of wild weeks, but implied volatility measures remain heightened across the sector.
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Everything fell into place for Glencore’s $2.5bn capital raising on Tuesday evening, as the company managed to raise its target sum with an accelerated bookbuild as a 9.99% share of its equity, just below the trigger for a rights issue.
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Swedish group Akelius Residential Property on Wednesday sold €300m of unsecured notes with speculative grade ratings, entirely to investment grade investors.
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Persian Gulf equity markets have so far failed to win a boost from last year’s inclusion of the United Arab Emirates and Qatar into the world’s main emerging market index, as well as the more recent opening up of the Saudi Exchange to foreign investors, market participants have said.
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China’s National Development and Reform Commission (NDRC) has released a set of new guidelines for offshore bond issuance in either renminbi or foreign currency. The new rules move away from the current case-by-case approval system to a registration-based regime for Chinese corporates and financial institutions.