News content
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Ukrainian mining and steel company Metinvest is asking holders of its three outstanding Eurobonds for a maturity extension and a waiver for default events.
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Republic of Turkey is making its second appearance of the year in dollars and is out with an 11 year benchmark bond
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Royal Dutch Shell’s £47bn takeover offer for BG Group may bypass the public equity capital market — at any rate, no public issue has been mentioned to finance the £13.1bn cash element of the purchase price. But Shell has raised its asset disposal target for 2016-18 to $30bn.
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Always one for superlatives, Republic of Mexico has shocked the market with what looks set to be the largest euro century bond, and the first from a sovereign. Leads Goldman Sachs and HSBC are talking the 100 year euro-denominated note at 4.5% area.
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Mandarin Oriental International and Metropolitan Bank have wrapped up their rights issues as they shore up their balance sheets.
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Bankers working on loans for International Bank of Azerbaijan (IBA) and its peer AccessBank say they are progressing well and could be completed by mid-month.
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With less than two months before summer slows it all back down, the FIG market has a lot to get done in April. Yet the pipeline is fairly sparse — only ING, with its debut additional tier one, and Achmea Bank, with a euro denominated senior deal, are meeting with investors for deals.
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French lender BNP Paribas has appointed Philippe Aroyo, a long-serving executive, to head its business in Malaysia with effect from April 8.
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A strong pledge from the Greek government to meet its debt repayments has improved conditions for issuance in the sovereign, supranational and agency market this week — but with next week set to be far busier for deals, bankers are hoping the momentum is maintained.
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The Korean DCM market is finally showing some signs of life, with Shinhan Bank opening books for a dollar denominated bond on April 8. Even though the Korean lender is expected to print a deal of only $350m-$500m, market observers are still excited by its appearance as it could be the first of a long list of names.
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Noble Group, a commodities supplier, has launched into general a $2.25bn financing that is being led by a 15-strong group of banks.
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The Indian government is set to raise around Rp15.6bn ($250m) by divesting a 5% stake in Rural Electrification Corp, with books for the offer for sale (OFS) opening on April 8 and ending up oversubscribed pretty quickly.