Bips & Pieces
ESG-Compliant Bonds More Resilient than Non-ESG Assets in 1Q2020
As the coronavirus pandemic weighs on global markets, both bonds and equities have been battered. But according to recent research from AXA Investment Managers, bonds with a high degree of ESG compliance performed better than their less compliant peers.
9 Apr 2020
Sovcombank Launches Debt Buyback, Signalling Broader Shift to Liability Management as Sector Outlook Dims
One of Russia’s largest lenders joins a growing list of banks carrying out liability management exercises amid growing pressure on the sector from the COVID-19 pandemic, as Fitch Ratings shifts sector outlook to negative.
8 Apr 2020
BlackRock: Credit Outlook, Local Currency Debt Upgraded on the Back of 'Unprecedented' Stimulus Efforts
Unprecedented policy support from the world’s governments and large central banks to fight the economic effects of the COVID-19 pandemic have sharply lowered valuations and have led to an improving outlook for credit, BlackRock analysts say. Emerging market local currency debt is one of the asset classes favoured by the fund manager.
8 Apr 2020
Qatar Reopens GCC Capital Markets with USD10bn Trade as Other Sovereigns Consider Raising Funding
Qatar has returned to the capital markets with the sale of a USD10bn Eurobond, marking the latest issuance from EM sovereigns returning to the markets.
8 Apr 2020
Russian Regions Squeezed by Rising Borrowing Needs, Soaring Debt Costs
Over the past two years the sub-sovereign bond market has been largely stagnant, but as budgetary constraints force regional issuers to tap the bond markets, rising costs of debt will act as an impediment.
8 Apr 2020
Analysts Revise Kenyan GDP Growth to 4.3% for 2020
Kenya’s economy, like many of its peers on the continent, is being hit hard by the COVID-19 pandemic, with analysts revising the country's growth prospects downward.
8 Apr 2020
Nigeria’s Economy Could Contract by 3.4% Unless ‘Radical’ Stimulus Measures are Passed, Finance Minister Says
The Nigerian economy could contract by as much as 3.4% this year unless ‘radical’ stimulus measures are put in place to stem the economic fallout from coronavirus, the country’s Finance Minister said.
7 Apr 2020
Tabreed Acquisition of Emaar-Owned Dubai District Cooling Business 'Credit Positive'
The National Central Cooling Company PJSC, better known as Tabreed, acquired an 80% stake in Emaar-owned Downtown Dubai district cooling business from the real estate giant in a deal valued at AED2.48bn, a deal fund managers described as a win-win.
7 Apr 2020
Analysts Pare Back Price Assumptions on Metals as Economic Activity Drops
Lower economic activity following the introduction of lockdowns in many countries has prompted analysts to reduce their short-term price expectations on a range of metals, which could harm the prospects of a wide range of emerging markets.
7 Apr 2020
Kenyan Banking Sector Recovery Cut Short as Pandemic Crosses into the Country
Encouraging full-year 2019 results published by Kenyan lenders pointed to a build up of momentum, but the spread of COVID-19 is forcing the government to introduce emergency measures and banks to slash revenue targets for 2020.
7 Apr 2020