.png){kind=logo}
GC Asia
-
UKEF backs biggest overseas infrastructure financing for Egypt rail project
UK Export Finance, the UK's export credit agency, has provided its largest ever overseas infrastructure guarantee to support the construction of two new monorails in Egypt. JP Morgan is leading a group of commercial lenders in providing the funding.
22 Jan 2021 -
HSBC team to target MENAT ESG activity
HSBC has created a dedicated sustainable and transition finance team for the Middle East, North Africa and Turkey, as the region tries to make its economies more sustainable.
21 Jan 2021 -
High yield issuers take front stage though CEEMEA ‘underwhelming’
Junk-rated emerging market sovereigns Benin and Oman sold bonds this week, with market participants saying their new issue premiums were minimal. However, bankers think total activity across CEEMEA over the last two weeks has been “underwhelming”.
14 Jan 2021 -
Benin EUR700m 4.875% Jan 30 EUR300m 6.875% Jan 52
14 Jan 2021 -
EM FIG trio storm into market seeking dollars and euros
Turkey’s Yapi Kredi, Russia’s Credit Bank of Moscow and Banque Ouest Africaine de Banque Ouest Africaine de Développement have all approached investors this week to sound out interest in hard currency bonds.
13 Jan 2021 -
Room for high yield EM credits 'no issue' as Oman returns for dollars
The Sultanate of Oman's return to debt markets is proof to some that the market is wide open for high yielding emerging market issuers. The sovereign mandated banks for a dollar deal as investors, hunting for yield, appear undeterred by volatility in the US rates market.
13 Jan 2021 -
Rating agency treatment of EM risk at odds with the people who take it
Credit rating agencies are attracting harsh criticism over their treatment of emerging market sovereigns. Some in the bond markets believe it threatens to undermine their authority when it comes to assessing creditworthiness.
12 Jan 2021 -
Benin euro bond prelude to more Africa issuance
The Republic of Benin on Tuesday launched a euro bond, its second entry into international markets since its debut in 2019. Bankers on the deal believe the bond is the beginning of a surge in sub-Saharan African issuance, with other sovereigns including South Africa and Nigeria also expected to enter the bond market in the coming months.
12 Jan 2021 -
No holding back in buzzing EM as all trades fly
Emerging markets issuers of all flavours ignored convention and stormed into primary bond markets this week, with great success. Renewed warnings about increasing debt ratios in emerging nations were no match for an extraordinarily supportive technical picture as investors piled into deals — even as Democratic victories in US Senate run-offs pushed rates higher. Mariam Meskin and Oliver West report.
07 Jan 2021 -
African DCM gains momentum as Benin seeks euros
After a dismally quiet year of issuance in 2020, bankers are convinced that sub-Saharan African bond volumes will make a strong recovery. The Republic of Benin is sounding out investors for a euro-denominated offering, its second foray into the market since its debut two years ago.
06 Jan 2021
