Sri Lanka
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Asia’s syndicated loan market is offering razor-sharp funding to sovereign borrowers, and that is not just limited to the more developed countries in the market. Pakistan and Sri Lanka are returning to the market with $1.45bn of loans between them, and both look set to cut their pricing significantly. Pan Yue reports. -
Sri Lanka has sent out a request for proposals for an up to $1bn-equivalent offshore loan, which can be denominated in dollars, Japanese yen or euros.
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The Democratic Socialist Republic of Sri Lanka grabbed $2.5bn from its largest bond on record on Wednesday, as investors showed their support to a country that has been buffeted by numerous problems recently.
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It has now become common for bond issuers to stress their 'Belt and Road' credentials. But China Merchants Port has become one of the first issuers to get the official blessing to use the term.
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The Republic of Indonesia has mandated banks for a green dollar sukuk sale, marking the region’s first sovereign green issuance.
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Crédit Ag’s Sodhi takes global role – Daiwa equity-linked banker exits – Deutsche builds up loans team – Nomura hires DCM banker – Mizuho names CEO – MUFG appoints Philippines head – Russell-Davison joins Amana Bank
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DCM bankers often market Panda bonds as Belt and Road bonds, even when they have little to do with China’s landmark infrastructure plan. But in recent weeks, issuers with genuine needs for funding Belt and Road projects have started to tap the market. The change could open up a new frontier for RMB internationalisation.
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China Merchants Port Holdings is returning to the Panda bond market for a Rmb500m ($76.8m) deal to fund its acquisition of a port in Sri Lanka — a flagship project under China's Belt and Road Initiative (BRI).
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Indrajit Coomaraswamy wants to institutionalise Sri Lanka’s macro-economic framework by stiffening up the country’s Fiscal Management Responsibility Act.
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After initially treating China’s Belt and Road Initiative as a local venture, India has launched its own Project Mausam plan that experts say could be a “win-win” for the region at the risk of stirring tensions between the two powers
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The Monetary Board of the Central Bank of Sri Lanka has suspended the primary dealer status of Pan Asia Banking Corp (PABC) for six months.
