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Mizuho Bank printed its first dollar issue of the year on Thursday, printing a multi-tranche offering that consisted of the same structure and size of its last outing in September. The Japanese lender took advantage of the cautious market sentiment following Federal Open Market Committee (FOMC) meeting this week to effortlessly bag $2.5bn.
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Malaysia Airports Holdings has received a very positive response from shareholders for its MR1.32bn ($396m) rights offering, with investors piling in for far more shares than were available as part of the one-for-five issuance.
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Indonesian tower company Solusi Tunas Pratama is in the market for a triple tranche loan to take out what is left of a bridge it sealed with five banks in December last year.
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RAM Ratings has assigned a AA3 rating to Kuveyt Türk’s debut ringgit sukuk, and Zorlu Energy has added its name to the list of Turkish corporates considering Islamic bonds. But despite a burgeoning Turkish financial market, debt bankers are not holding out hope of corporate supply kicking off.
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Malaysia’s AmBank Group has appointed Datuk Mohamed Azmi Mahmood as an acting managing director, said the group’s press release on Friday.
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State Bank of Pakistan has approved Karachi based Habib Bank’s (HBL) request to conduct due diligence for its acquisition of First Microfinance Bank (FMB), Pakistan’s oldest microfinance lender.
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Bank Muscat’s shareholders have approved plans for an OR500m ($1.29bn) sukuk programme.
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Emerging markets sovereigns saw US Treasury yields at their lowest in nearly two months at Wednesday’s close and rushed to announce deals on Thursday morning. Peru and Ecuador ensured that Latin America was no exception, but results were mixed.
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Colombia’s Pacific Rubiales appears to have headed off a rout of its bonds after it persuaded lenders to relax covenants on its revolving credit facility.
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Investors complaining about a lack of corporate new issues from Latin America so far this year have plenty of credit work for the next few days as two companies aim to launch deals with unusual structures.
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The US Federal Reserve this week said it may raise its benchmark rate for the first time in nearly seven years — holders of dollar callable medium term notes may rue the day they took on the paper. But issuers should still look after them.
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At its March meeting, the US Federal Reserve began winding down its policy of extreme transparency and forward guidance, pushing market participants to rely now on economic data instead of qualitative nudges from the central bank.