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  • FIG
    The euro FIG market is set for its first silent week of 2015, as tensions surrounding Greece push investors away from the single currency.
  • The Egyptian Electricity Holding Co launched a $521m loan to build power stations, a small step as the country undertakes a large expansion programme in the industry.
  • Liberty Financial is set to bring year to date issuance of Australian RMBS to more than €6bn equivalent, announcing on Wednesday a A$500 deal backed by non-conforming and prime mortgages.
  • FirstRand finishes the roadshow for its senior bond on Tuesday and is likely to release initial price thoughts on Wednesday.
  • Africa Finance Corp is planning to print a four times subscribed $500m debut on Wednesday afternoon.
  • Noor Bank sold a $500m debut sukuk on Wednesday, marking the first of what should be regular visits to the international sukuk market.
  • China Petrochemical Corporation (Sinopec) hit the market on April 21 with a mammoth $6.4bn offering that was split between two currencies and five tranches. While the size of the transaction was impressive enough, it was the deal’s top notch pricing and distribution that drew attention with bankers claiming that Sinopec now belongs to an elite class of issuers.
  • In a bid to help fill the funding gap in emerging markets left by banks and private equity, two businessmen have launched Emerging Crowd, a crowdfunding company. Co-founders Lucien Moolenaar and Will Tindall claim it to be the first UK platform that allows retail investors to invest to equity and debt fundraisings by unlisted growth-stage companies in frontier and emerging markets.
  • Capital Environment Holdings is looking to double its issued share capital by way of a one-for-one rights issue, which will net the company as much as HK$2.25bn ($290m) in proceeds.
  • Indonesia’s Buana Finance is on the hunt for a $65m three year amortiser that comes with a $35m greenshoe option. The loan, which has Standard Chartered at the helm, offers banks the option of joining onshore or offshore.
  • FIG
    A strong pipeline of euro FIG transactions is being held back by a softer market this week, with investors wary of adding risk as Greece battles its creditors.
  • The iBoxx non-financials index may have widened 20bp since March, but market participants appear glad of it. Europe’s corporate bond market is healthy and wide open for riskier deals.