News content
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Caribbean island nation Jamaica filed a bond shelf with the SEC for issuance of up to $3bn on Tuesday, taking it one step closer to a much anticipated deal that would be at least partly used to finance PetroCaribe loans owed to Venezuela.
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The FIG market took a breather on Wednesday after bursting into life earlier this week. After five days of a strong rally, a weaker US market close on Tuesday meant that issuers took the opportunity to pause for digestion.
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Borrowers looking to pick up size over the summer will be encouraged by a look at the dollar market this week, as investors piled into benchmarks across the curve — and there are also signs of a reopening euro market.
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Armenia's Ardshinbank has released price guidance at a yield of 12% for a dollar five year amortising bond.
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Rustavi Azot has released price guidance for its $180m five year non-call three notes at 11%-13% yield. The note is expected to be priced later this week.
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Slovenia priced a €1.25bn 10 year transaction on Tuesday with only a single digit new issue premium, according to bookrunners. The thirst for duration should help encourage other European sovereigns.
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Just when markets usually wind down for summer, they are winding up, after weeks of Greece-induced torpor. Europe’s corporate bond market is swinging back into action, but while investment grade issuers are taking it slowly, high yield is ablaze with 12 deals.
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Export Import Bank of Korea (Kexim) made a quick return to the offshore renminbi market this week, copying the pioneering approach it took in February when it sold the country’s first single tranche CNH deal to be listed in both Taiwan and Singapore.
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Dubai Aerospace Enterprise will repay $705m of loans ahead of schedule with funds from the sale of its maintenance, repair and operations unit, StandardAero.
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CEEMEA is refusing to put its feet up for the summer. Slovenia has reopened European sovereign supply, Zambia is prepping a dollar benchmark and rarer names are offering old school emerging market yields in the double digits.
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Europe’s equity capital markets continue to experience a mixture of deal failures and successes, as investors remain open for business, despite the nearness of August's lull, but selective.
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South Korean weapons maker LIG Nex1, which filed for an IPO worth W400bn-W500bn ($360m-450m) in early June, has received the regulator’s approval to go ahead with its listing.