23 Jun 2017 Daily Roundup
DBN gets a BBB- rating – Nigeria secures new loan from The World Bank – Norway threatens to cut Brazil’s assistance - The State Bank of Pakistan plans new sukuk - China Jinmao taps the international markets – India’s Rural Electrification Corp to issue green bonds – Belarus returns on Eurobond market – Russia’s energy minister Novak leaves Rosneft board
In constitution and performance, indexes are in large part designed to act as a mirror to the markets they reflect, with investors largely vying for ways to exploit information deficiencies and fleeting hunches to beat them. But in emerging markets, there is a huge discrepancy between the assets that compose these indexes and the actual asset class, raising fundamental questions about the purpose these tools serve.
GCC sukuk issuance topped US$22bn in 1H2017 – Saudi Arabia has a new heir to the throne – Saudi Arabia was added to MSCI’s watch list for a potential upgrade – UAE banks’ loan books grow by 2.13% – Dana Gas sukuk deemed “unlawful” – Qatar’s sovereign wealth fund has injected deposits into local banks to boost liquidity – QPSC said it expects to meet its earnings targets
Turkey’s Eximbank signed a loan facility – Nigeria to launch first welfare program –Peru’s Finance Minister resigns - Venezuela to sell fixed income securities - China’s tapped the international markets - China Evergrande Group issued a dual-tranche bond – Gazprom to issue a Eurobond – Egypt’s IMF loan delayed
22 Jun 2017
Even as Venezuela continues to get rid of its last remaining financial assets in its quest for fresh cash; analysts believe that a default in the crisis-struck nation is just a matter of time
Navistar Financial tapped the local markets – Temer denies corruption allegations – IFC is investing in Banco Industrial do Brazil – Temer received another setback in the Senate – Argentina issued a 100-year bond – MSCI snubbed Argentina – Davivienda issued a triple- tranche bond in the local markets – Chile issued a US$1.2bn bond – Panama’s inflation eased – Petroperu tapped the international markets – Venezuela fails to pay debt
Saudi Arabia has a new heir to the throne– Saudi Arabia was added to MSCI’s watch list- Sibanye Gold sold a double-tranche bond – Argentina snubbed by MSCI- Temer receives another setback in the Senate- MSCI to add a selection of China’s shares- Nova Austral prints notes- Global investors buy Russia’s Eurobond- New sanctions for Russia
21 Jun 2017
Brazil beef giant tapped Minerva took advantage of favourable conditions in emerging markets to sell a US$1bn bond due 2026, which priced inside the company’s yield curve at 6.625%.
Turkish policymakers finally got some breathing room earlier this month when official data unveiled that Turkey’s economy had grown at 5% in the first quarter of 2017, beating market consensus by more than 1% while raising suspicion among economists
Qatar injects fresh cash into banks– DAE to issue corporate bonds–Nigeria prints US$300mn notes – ICBC Asia tapped the international markets- Argentina’s 100-year bond oversubscribed- China’s economic growth expected to fall- Indonesia sells T-bills- Hungary keeps interest rates on hold- South Africa’s central bank fights back
20 Jun 2017
- CASE STUDY: Wheeler-Dealer Iochpe Maxion Rolls Out a US$275mn Syndicated Loan
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- Emerging Market Credit Daily Roundup: 19 June 2017
- Is Kenya’s Economic Model Sustainable?
- Emerging Market Credit Daily Roundup: 16 June 2017
23 Jun 2017
21 Jun 2017