News content
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Italian construction firm CMC Ravenna has raised €306m from BNP Paribas and Intesa Sanpaolo to build the Itare Dam in Kenya, with most of the funds guaranteed by Italian export credit agency SACE.
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SoftBank Group on Wednesday began roadshowing for euro and dollar bonds, even though the European high yield market has been at a standstill for two weeks while Greece negotiated its third bailout.
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Kazakhstan printed a gigantic $4bn dual tranche bond this week, drawing a book of around $9.5bn for the notes.
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Naspers reopened the market for CEEMEA corporates this week. But the rare nature of the credit means that few other borrowers can get away with similarly modest — if historically slightly elevated — premiums, said bankers on the deal.
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The vast majority of commercial banks in the eurozone are missing targets of 10% return on equity, well behind their US rivals, as they confront regulation driving them to be more domestically focused.
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Vive la France! Tuesday’s national Bastille Day holiday obviously did Aéroports de Paris some good, as on Wednesday morning it reopened Europe’s mainstream investment grade corporate bond market after a fortnight’s shutdown.
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Korea Development Bank (KDB) made a rare venture into Singapore dollars, pricing a S$200m ($146.8m) three year bond. The deal was not only KDB’s biggest deal in the currency, but it was also the largest issue by a Korean name.
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Jumbo transactions from Japanese banks are nothing new when it comes to the international debt market although Sumitomo Mitsui Banking Corp (SMBC) did surprise some by opting to pay up with a $3bn four tranche offering on July 14.
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Zambia has picked banks for a dollar bond and finishes a roadshow next week. Stabilising copper prices have raised some analysts' outlooks on Zambia's existing Eurobonds, although those notes dropped in the secondary following announcement of a new trade.
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Korea National Oil Corp (KNOC) has announced a series of investor meetings in Asia, Europe and US as it gears up for the first offshore bond of 2015.
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The future of Greece as a eurozone country was hanging in the balance on Wednesday — all but shutting down the euro benchmark market for public sector borrowers.
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CVC-sponsored Asia Education Investment is in the market for a $165m triple tranche facility, part of which will be used to recapitalise the major shareholder.