Search results for

In a display of market savvy by an infrequent issuer, the Dominican Republic yesterday (Thursday) pounced on a small window of opportunity to launch a $500m five year global bond, the first offering from an emerging market borrower since last week's terrorist attacks. The deal, led by JP Morgan and Morgan Stanley, was priced at par to yield 9.5%, 25bp wider than the original 9.25% yield it was due to be launched at last Tuesday (September 11). The market reacted positively to the issue, saying that a 25bp back-up in yield was reasonable under the circumstances.

Five small Italian co-operative banks yesterday (Thursday) launched a Eu302.5m securitisation backed by performing residential and commercial mortgage loans. Lead managed by Crédit Agricole Indosuez, the deal, which was originally scheduled for launch last week, is one of only two European deals to have closed since events in the US last Tuesday.

Croatia Joint arrangers Commerzbank and Erste Bank forged ahead with business last week and signed banks into the Eu50m amortising five year loan for Erste & Steiermärkische Bank on Wednesday, September 12.