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  • CEE
    Croatia's €1.5bn 10 year bond drew praise for a tight result but also criticism for having released initial price guidance too wide.
  • BPCE sold a rare fixed rate MTN in Swedish kronor, as uncertainty over negative yields drives Swedish investors away from floating rate notes.
  • Malaysia’s state oil company Petroliam Nasional (Petronas) is gearing up to issue its first dollar sukuk in almost six years, having mandated five banks to run a series of roadshows in Asia, Europe and US.
  • Commonwealth Bank of Australia (CBA) became the fourth non-Chinese bank to issue a Basel III tier two bond in the offshore renminbi (CNH) market. Although it wasn't able to tighten guidance, the Australian bank took advantage of favourable renminbi-dollar swap rates and managed to save cost.
  • Axis Bank successfully returned to the dollar market with a $250m tap to its existing 3.25% 2020s. The deal saw such strong demand that the issuer was able to scale up the size while pricing it slightly tighter than the original deal.
  • Lodha Developers has started taking orders for its maiden bond on Thursday, having postponed the trade from the end of last year after demand was lacklustre. The Indian borrower is taking no chances this time around and has launched with a much wider pricing level to woo investors.
  • There is no sign that the Formosa bond bandwagon is taking a break, with Macquarie pricing its debut renminbi-denominated bond in Taiwan, and Hana Bank adding another Korean name to the list of international issuers in the market. Macquarie’s deal also marked the first Australian issuer of a Formosa bond.
  • Investors poured into China Shanshui Cement Group’s $500m bond on March 4 as a more than eight times covered book helped the company end a three year hiatus from the market. But the strong reception was mostly the result of generous pricing, observers said.
  • Mexico telecoms giant América Móvil reopened its global local peso bonds due 2024 for Mp3.5bn ($232m) on Wednesday as international investors demonstrated confidence in the currency.
  • Latin American sub-investment grade companies will face “difficult operating and market conditions” in 2015, said Fitch in a special report on leveraged finance in the region this week.
  • Market participants have been buying significant amounts of bearish options on defensive stocks and funds, such as utilities, indicating that consumer sentiment is shifting from market recovery to expansion.
  • Malaysia’s state oil company Petroliam Nasional (Petronas) is gearing up to issue its first dollar sukuk in almost six years, having mandated five banks to run a series of roadshow in Asia, Europe and US.