News content
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Kazakhstan, Naspers and Renaissance Services reopened CEEMEA new issuance this week, relieving cash gorged investors of $5.325bn between them, in the second largest week for the region so far this year, writes Francesca Young
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Caisse des Dépôts et Consignations made a successful return to the Samurai market this week with a ¥20bn ($161m) dual-tranche deal.
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J Sainsbury, the unrated UK supermarket chain, on Thursday became the first issuer to join the corporate bond pipeline in three weeks, announcing a roadshow for a possible hybrid capital deal.
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After a month of speculation, Verallia, the French glass bottle maker, has come to market, setting a Friday bank meeting for €1bn of leveraged loans to back its buyout by Apollo Global Management.
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CEEMEA borrowers pounced on a clear window this week and paid for it with premiums as high as 50bp. But while everyone talks about the size of the concessions, it’s worth noting that issuers showed the maturity to accept them.
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Omani oil & gas firm Renaissance Services sold a dual tranche dollar and Omani rial perpetual bond on Wednesday amounting to $125m.
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Spain’s borrowing costs returned to a downward trajectory on Thursday after several months of constant rises — but, like the rest of the eurozone periphery, its yields barely reacted to an important step in the Greek crisis.
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Banco Mercantil do Brasil extended the settlement date for a buyback of its 2020 dollar denominated subordinated debt this week, because it has not yet received central bank approval to increase the amount it can purchase.
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Deals for the Kenya Pipeline Company and the Itare Dam project provided a boost for the Kenyan infrastructure sector, but these types of deals move in slow motion according to bankers.
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Leak was dead excited when BNP Paribas invited us out for a spot of tennis, given all the glamorous professional tournaments which the bank sponsors. But when the day came it turned out to be the type of tennis played on a table, and we weren’t spectating.
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German wheelchair maker Sunrise Medical’s €315m acquisition loan has begun trading in secondary markets after being priced in line with initial guidance.
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The European high yield market has gone through two weeks of stagnation due to the Greek debt crisis, and has fallen short of the volume produced over the first half of last year — but 2015’s second half looks reassuring.