Coronavirus

Indonesian tanker company Soechi Lines, which is facing a big hit to its shipyard operation, is in discussions with banks for a refinancing loan.

The Kingdom of Thailand pulled off a novel sustainability bond in the domestic debt market on Thursday, hitting the upper end of its Bt30bn ($965m) size target and getting away with tight pricing.

Singapore fintech BondEvalue launched BondbloX Bond Exchange this week, which claims to be the first blockchain-based exchange in the world, with the maiden trade executed on a bond from commodities giant Olam.

FIG market participants expect a smooth return to euro bond issuance from next week, with bankers and investors now set up to facilitate deals where ever they may be.

After months of lockdown in countries across the world, a few of my banker friends are now slowly heading back to their offices. It is not easy.

Europe’s equity capital markets have gone quiet in August as investors take a holiday before what is expected to be a busy September. Bankers are keen to get their deals done quickly when the market reopens to avoid running into bad news on Covid-19 and a volatile US election, meaning investors will be asked to take part in an onslaught of IPOs in a true test of market capacity.

Hong Kong-based Li & Fung used a coupon step-up in case of a rating downgrade to attract investors to its $300m bond on Tuesday, as it gears up for a big hit to its business this year as a result of Covid-19.

ONGC Videsh (OVL), the overseas arm of India’s state-owned Oil and Natural Gas Corp, has sent out a request for proposals for an up to $750m loan, just a few months after raising $1bn.

Real money investors have historically avoided the reputational risk involved in participating in sovereign debt restructurings. But a truly socially responsible investor should embrace these situations — for the sake of both their clients and troubled emerging nations.

Bankers in advisory, as well as the management at banks, are likely to receive lower bonuses this year, according to Johnson Associates, a compensation consultant for the financial sector. However, traders and bankers working in underwriting are in line to enjoy a boost.

Equity capital markets are preparing for a wave of rights issues this autumn as companies raise capital to withstand a prolonged Covid-19 pandemic. One of the most talked about is a rights issue for IAG, the airline holding company that owns British Airways, with market participants praying that sentiment holds up throughout August enough to allow the deal to succeed in September.

Indian agricultural company Jain Irrigation Systems, which has been navigating a liquidity crisis for more than a year, has put in place two restructuring plans for its onshore and offshore debt.