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CEEMEA debt bankers spent Monday morning on the phone to issuers following news of a Greek bailout agreement. But prospects for supply still hinge on a Greek parliamentary vote on Wednesday, and even then not just any CEEMEA issuer will be able to launch, said debt bankers.
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Belarusbank, the largest commercial bank in Belarus, has signed a €203m loan that one of its lenders said was the biggest ever in the Belarusian banking sector.
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The worst crash in China’s domestic stock market since the late 1990s has dominated headlines for weeks but its potential impact may have been exaggerated, with the sell-off mostly felt by very highly-leveraged investors, said analysts. The economy will also be largely unscathed, they say.
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Primary deal flow in Asia ex-Japan’s equity capital markets is expected to come close to a standstill this week as investors continue to come to grips with the topsy-turvy nature of China’s stock markets. With the summer lull also looming, syndicate bankers are now holding important discussions with potential issuers about finding the right window for transactions.
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Details of the invitation for a $300m loan for troubled carrier Air India are out. The bank had mandated Citi and State Bank of India to lead the deal in May.
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Hong Kong Treasury Markets Association (TMA) launched on Monday a set of RMB bond indicative quotes aiming at increasing the price transparency for RMB-denominated institutional bonds issued in Hong Kong by the Ministry of Finance (MoF) of China.
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Egypt’s Banque du Caire is in the market for a $250m one year facility, looking to make the most of abundant liquidity across Asia by sending out invitations to banks in the region. The deal comes as financial institutions from Brazil and Turkey are also tapping Asian lenders.
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Firm trade data and a continuing equity market recovery supported domestic paying in CNY swaps and a steepening in the curve on Monday. A market source sees scope for further steepening in the 2s/5s NDIRS curve slope, writes Deirdre Yeung of Total Derivatives.
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UK banks will find it harder to game leverage ratios as regulators plan to introduce stricter disclosure rules than those in Europe.
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Xinjiang Goldwind Science & Technology has hired three banks to arrange investor meetings ahead of what will be the first green bond by a Chinese issuer.
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As regulators have looked to make banks bankruptcy-proof in the years since the financial crisis, bank capital investors have been forced to adapt quickly to new layers of protection. For seasoned buyers, the disruptive force of the Financial Stability Board’s rules on total loss-absorbing capacity (TLAC) is simply the next challenge.
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Banks have cleaned up and found an investor base for billions in new age loss-absorbing capital, but with regulators putting the finishing touches to the post-crisis framework, there is no shortage of challenges ahead, writes Tom Porter.