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Daily Roundup

BTPN said to be marketing loan – Central Bank of Kenya releases ICAAP draft guidance – Analysts: Fitch unlikely to downgrade Turkey – Aldar Properties completes refi – Iran, Norway ink €1bn deal

Aug 18, 2016 // 6:00PM

  • SMBC is said to be marketing a loan for Bank Tabungan Pensiunan Nasional. The size of the loan could range between US$150mn and US$175mn
  • The Federal Government of Nigeria raised NGN110bn (US$342mn) worth of bonds to mature in 2021, 2026 and 2036, the Debt Management Office (DMO) said
  • Moody's has revised its outlook for emerging markets, saying it expects G20 emerging markets to grow at 4.4% this year and 5% in 2017
  • The Central Bank of Kenya has developed a draft Guidance Note on Internal Capital Adequacy Assessment Process (ICAAP) for the banking sector. The move comes after several of the country's banks breached their capital adequacy ratios
  • Analysts have echoed remarks made by several senior government officials this week that Fitch is unlikely to revise down its credit rating. Fitch's credit rating for Turkey was last reported at BBB-, one notch above investment grade, but it is currently being reviewed following the July coup attempt
  • Danish Foreign Minister Kristian Jensen is currently looking to bolster economic relations with Argentina following the latter's exit from market isolation
  • Aldar Properties, the Abu Dhabi-based developer, has successfully refinanced US$490mn in existing bank loans which were due to mature in 2018
  • Fitch has downgraded Bancolombia's credit rating from BBB+ to BBB, citing lower than expected capital ratios
  • Bank of Indonesia will hold its monetary policy meeting tomorrow. Consensus suggests the Bank will cut interest rates by 25bps to 6.25%
  • Malaysia-based International Islamic Liquidity Management Corp (IILM) has sold US$500mn 4-month sukuk in a bid to lengthen existing maturities on its debt
  • Egypt has reportedly hired JP Morgan, Citigroup, BNP Paribas, and Natixis to help arrange a dollar bond as the government looks to raise over US$21bn in new funds, according to a report from Bloomberg
  • Norway has opened a €1bn credit line for Iran following the signing of a number of ECA-backed deals between the two countries

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