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  • The UK Debt Management Office is likely to pick a reopening of its 2068 inflation-linked Gilt for its September syndication, after holding a consultation with Gilt-edged Market Makers and investors on Monday.
  • Kenya Pipeline Co (KPC) has signed its $350m 10 year loan with three new banks joining the syndicate in secondary enquiries.
  • Boutique asset manager Sparinvest will consolidate two of its high yield bond sub-funds into its existing Corporate Value Bonds on September 25, as the company reviews its product range.
  • Dedicated EM bond funds were hit by around $2.5bn of outflows in the last week, according to Barclays Research. But the retrenchment has so far been much less steep than either the 2013 taper tantrum or the 2008 global financial crisis, according to the Institute of International Finance.
  • FIG
    Monday’s global equity rout will have a short lived impact on the FIG primary market, bankers said on Tuesday, with deals ready to launch and waiting for a day or two of stable trading.
  • Ukrainian agriculture firms are reaping deals from the syndicated loan market with Kernel back for its third deal of the year and a $90m loan for grain and oilseed firm, Nibulon, in the market.
  • Whatever the wisdom of tailoring monetary policy to the gyrations of the global equity markets, the Fed’s likely caution could clear the way for a wall of FIG supply once calm returns.
  • Year to date CEEMEA supply in dollars is a little over 40% of what it was in recent years, but the percentage decline in other currencies has been even worse, data from Dealogic shows.
  • AngloGold Ashanti is offering to purchase for cash up to $810m of its $1.25bn 8.5% 2020s, surprising some analysts who had been expecting the company to wait until the call date on the notes next year to repurchase the bonds.
  • Investors are firmly back in risk-of mode this week as global stock markets take a battering. This is likely to put new issuance on hold for the rest of the month and the outlook for September also looks uncertain, say bankers.
  • Financing for three rival bids to acquire Tesco’s South Korean asset Homeplus feature a senior-junior split, according to market sources. One of the contenders is also said to have secured a letter of commitment from a local pension fund, considered unusual as such funds usually throw their weight behind bidders once they have emerged as the winner.
  • Green bond issuance in Asia has taken off this year after sluggish growth in the past, according to data by Dealogic.