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Daily Roundup

Asian Development Bank issues US$1.3bn green bond – APCRDA looking to raise US$300mn in Masala bonds – PBOC commits to further easing – World Bank to issue debut SDR bonds

Aug 15, 2016 // 5:33PM

  • The Nigeria Sovereign Investment Authority (NSIA) has secured a US$700m loan deal for the development of the real estate and agricultural sector
  • Egypt has finalised a US$12bn loan deal with the IMF, which will be used to support the country's reform programme
  • The World Bank is set to issue up to 2bn in SDR-denominated bonds (approx. US$2.8bn) in the Chinese interbank market. Industrial & Commercial Bank of China, HSBC Holdings Plc, China Construction Bank and China Development Bank have been mandated to help sell the bond, which will be payable in yuan
  • The European Bank for Reconstruction and Development (EBRD) is extending a US$75n loan for the development of Centerra Gold Inc’s Öksüt gold mine in the central Turkish region of Kayseri. The move is part of a US$150mn financing deal with participation from UniCredit to fund the US$220mn project
  • Chilean retail banks and non-bank financial institutions' profitability is expected to be negatively impacted according to Fitch Ratings, citing a deterioration in asset quality and slower growth
  • Bahrain has picked Credit Suisse, Bank ABC, BNP Paribas, JP Morgan and Standard Chartered to manage the sale of a dollar denominated Eurobond later this year, according to Bloomberg
  • The PBOC injected CNY80.5bn (US$12.12bn) in new liquidity into markets on Monday in the form of seven-day reverse repos, which were priced to yield 2.25%
  • The Andhra Pradesh Capital Region Development Authority (APCRDA) is looking to raise up to Rs2,000 crore (US$298mn) in Masala bonds to help fund the construction of key projects in the City of Amaravati
  • Nigeria's SEC has postponed the country's debut sovereign sukuk issuance from Q3 2016 to Q1 2017
  • Neo Solar Power Corporation (NSP) announced that it has received a US$123.6mn syndicated loan led by ING Bank
  • The Asian Development Bank has issued US$1.3bn in green bonds through dual-tranche 3 and 10-year notes
  • The Industrial Commercial Bank of China will look to issue a US dollar-denominated benchmark-sized bond through Dubai by the end of the year, Reuters reports
  • Banco del Estado de Chile's JPY10bn bond has been given an Aa3 rating by Moody's
  • Depot de Mexico's IDRs has been affirmed at BB+ by Fitch Ratings, but the outlook has been revised to negative
  • General Shopping Brasil’s long term local and foreign currency IDR has been lowered to RD by Fitch Ratings
  • Slovakia's credit rating has been affirmed at A+ by Fitch Ratings
  • S&P downgraded JBS’s rating from BB+ to BB with a stable outlook citing lower cashflows and working capital, which has impacted the company's liquidity position

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