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Mexico raises US$2.76bn in dual-tranche bond – Samvardhana Motherson issues US$100mn bond – Bahrain looking to issue third benchmark-sized Eurobond this year – Nigeria looking for banks to arrange US$1bn bond sale

Aug 9, 2016 // 5:35PM

  • Samvardhana Motherson Group, the Indian auto parts company has raised US$100mn in a 5.5-year international bond sale, which saw demand reach US$400mn. The bond’s coupon of 4.44% came in below IPTs of 4.5%. The Reg S bonds are to be listed on the Irish Stock Exchange. Barclays, HSBC and Standard Chartered were mandated to lead the transaction, according to banking sources quoted speaking to PTI
  • Bahrain is looking to issue a third Eurobond this year as it searches for banks to arrange a sale of a benchmark-sized Eurobond according to sources speaking to Bloomberg
  • The Kenya Bankers Association and Nairobi Securities Exchange have said in a joint statement that by April 2017 a green bond will have been issued from the country
  • Mexico has raised US$2.76bn in a dual-tranche bond, split between a re-tap of its 4.125% 2026s and a new 30-year bond. The re-tap amounted to US$760mn at T+145bp, whilst the 30-year bond was worth US$2bn at T+205bp. The joint bookrunners were BBVA, Bank of America Merrill Lynch and Credit Suisse. The orderbook reached around US$9bn, Reuters reports
  • China's CPI rose 1.8% year-on-year in July, down from 1.9% in June. PPI fell by 1.7% year-on-year in July
  • The Reserve Bank of India has kept rates on hold, leaving the repo rate and reverse repo rate unchanged at 6.5% and 6% respectively
  • Nigeria is looking for an advisor or manager for a US$1bn bond sale according to Schildershoven Finance
  • Moody's has said in a statement that the Islamic Corporation for the Development of the Private Sector (ICD) benefits from strong liquidity, but weak asset quality
  • Czech CPI rose 0.5% year-on-year in July, up from 0.1% in June
  • Hungarian CPI fell 0.3% year-on-year in July, down from 0.2% in June
  • Mexican CPI rose 2.65% year-on-year in July, up from 2.54% in June

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