Coronavirus

The Province of La Rioja said on Monday that, for the second time this year, it would take advantage of a 30-day grace period on a bond coupon payment to weigh up its options as it looks likely to become the latest regional government in Argentina to restructure its debt.

This week in Keeping Tabs: does sustainable finance need to rethink environmental threats, did monetary policy after the last crisis increase well-being, and do we need to worry about sovereign debt levels in developed countries?

Investors are still keen to buy bonds from Hong Kong corporations, with their interest reflected in the solid support for deals from Hongkong Electric Co and Nan Fung International Holdings on Thursday.

Phoenix Mills, an Indian retail mall developer and operator, bagged Rp11bn ($146.7m) in fresh equity this week from a qualified institutional placement.

Is the southeast Asian loan market set for a revival? Early signs are positive as borders start to open up and Covid-19 infection cases stabilise, leading to more enquiry from borrowers.

Colombian airline Avianca’s senior secured bondholders will be able to recover around 45% of their principal if they agree to provide debtor-in-possession (DIP) financing to the company, which has been in Chapter 11 bankruptcy proceedings since May.

Nasdaq-listed Futu Holdings, parent of Chinese online brokerage Futu Securities, has raised $313.5m from a follow-on offering, hitting the market on the back of a more than 200% surge in its share price this year.

Chinese real estate developer Shui On Land sealed a slightly larger than anticipated $500m bond on Monday, despite issuing a profit warning earlier this month.

Supply chain manager Li & Fung reopened a bond sold just last week for an additional $100m that was raised on the back of reverse enquiry from investors.

Will India ever come to the international bond market? Fears of foreign currency exposure and dissenting voices in the government derailed a planned deal last year. Now is the perfect time to try again.

China’s Anton Oilfield Services Group’s dollar bond has plunged in the secondary market following a profit warning from the company.

China’s local government financing vehicles (LGFVs) have seen strong appetite for their dollar bonds recently, allowing them to price deals at new lows, as a combination of attractive returns and expectations of state support amid Covid-19 wins over investors.