News content
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Troubled Ukrainian steelmaker Metinvest failed to draw a quorum at a bondholder meeting on June 1 — part of a prolonged attempt to reprofile its debt.
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Metalloinvest, the Russian iron miner, has obtained a €267m export credit agency agreement from international banks, but is still in talks on a separate syndicated loan.
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Turk Eximbank is in the market for a one year refinancing but has added a two year tranche to the deal, say bankers.
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Argentine government-linked issuers are eking out some level of market access despite the sovereign being in default, with the Province of Buenos Aires the latest to tap international bond investors.
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MFB Hungarian Development Bank (MFB) has mandated for its first euro deal in four years, and kicks off investor meetings next week.
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China Merchants Land has scooped $290m through a convertible bond priced well in its favour, as the presence of a standby letter of credit gave comfort to investors who viewed the notes as a safe bet. But the extent to which the CBs traded up following the deal seems to suggest that the issuer could have got away with more aggressive terms.
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Akbank’s attempt to raise a $250m three year loan has received a strong response, say bankers involved, as details of the deal’s fee structure have emerged.
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Lloyds Bank has been dealt a major blow in its bid to force a buyback of enhanced capital notes (ECNs) from retail investors, after a judge ruled against the bank on Wednesday.
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The Gabonese Republic has picked banks for a dollar benchmark deal and starts a roadshow on Thursday.
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Issuers in the sovereign, supranational and agency sector with funding to do in June face a tricky choice of whether to hurry up or wait until Greece has come to some agreement with its creditors.
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Global asset manager Vanguard has followed up the decision by FTSE Russell to begin including Chinese A-shares in its emerging markets indices with an announcement on June 2 that it will give A-shares an initial 5.6% weighting in its Vanguard Emerging Markets Stock Index Fund.
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Europe’s sunshine state may be about to default for the second time, but equity capital markets are fizzing with activity, and indices only a fraction off their post-crisis highs.