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Health and Biotech

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Sidharth Chhibbar to join in spring
Calendar quirk could keep issuance going in December
◆ Praemia refis at a tighter coupon ◆ Schneider lands tight at the short end ◆ Minimal concessions needed
French biotech seeks to accelerate cancer vaccine program
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  • Oman, one of only two junk-rated sovereigns in the Gulf region, is tapping lenders for up to $2bn, as some say it could not find the right conditions in the bond market. According to bankers familiar with the deal, credit risk considerations are foremost and the sovereign will have to pay up to borrow.
  • Mainland-based firms OcuMension Therapeutics and Immunotech Biopharm sealed their Hong Kong IPOs at the top of guidance, riding on support from both institutional and retail investors.
  • SSA
    While the coronavirus pandemic and its economic consequences are still a global threat, new sources of funds have enabled KfW to reduce its capital markets requirement for 2020. The German promotional bank's treasurer, Tim Armbruster, and head of capital markets Petra Wehlert discussed the matter with GlobalCapital.
  • Fitch has downgraded its covered bond ratings for Banco Montepio amid a deterioration in the outlook for residential mortgage loans in Portugal, exacerbated by the impact of the coronavirus pandemic.
  • Early September will set the tone for Europe's high grade corporate debt markets, said bankers this week, as only then will the full effects of the coronavirus pandemic be apparent in corporate earnings, and the direction of investment plans be clearer.
  • The Australian Treasury has unveiled its funding plans for its new 2020-21 fiscal year, funding its coronavirus response via a record number of syndications and an extension of its curve out to 2051.