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Daily Roundup

JP Morgan brings sukuk into the fold – Brazil’s senate stalls on reforms – Reports: NBAD to issue inaugural green bond – Chinalco upsizes dollar bond

Aug 19, 2016 // 3:52PM

  • JP Morgan will include dollar-denominated sukuk from Turkey, Indonesia and Malaysia in its EMBI Global Diversified index among others later this year, the bank announced. Only rated and highly liquid issuances will be accepted, and just 8 sukuk - only two from the Gulf region - have been earmarked for inclusion so far
  • The Brazilian Senate has delayed a vote on a budget bill that would free as much as 30% of the government’s budget. Markets have reacted negatively to the news
  • National Bank of Abu Dhabi (NBAD) is planning to market the its first benchmark-sized green bond, the bank's first, according to a report from Reuters
  • Nigeria is said to be in talks with China's Exim Bank over a US$21bn loan to fund the country's deficit
  • Ukrainian President Petro Poroshenko has warned that the likelihood of a full-scale Russian invasion is still high as tensions escalate between the two countries
  • Argentina's Province of Salta has announced up to US $50mn tap of its 9.125% 2024 bond. Citigroup and Deutsche Bank are managing the deal
  • The Government of Bangladesh plans to borrow US$800mn from the Islamic Development Bank (IDB) to finance its oil import bill for the current fiscal year, the government announced
  • Egypt has inked a deal with Saudi Arabia that will see the latter pump US$2bn into the Central Bank of Egypt, part of a series of deals signed between the two nations in April this year, according to a report from Reuters
  • Dewan Housing Finance Corporation (DHFCL) has proposed the issuance of unsecured subordinated non-convertible debentures worth Rs200 crore
  • Indiabulls Housing Finance is looking to issue secured non-convertible redeemable debentures worth around Rs1600 crore
  • Chinalco has issued a five-year senior unsecured fixed rate RegS dollar bond at 4.5%. The deal was upsized from US$500mn to US$800mn on the back of strong demand. Bank of China, Barclays Bank , and Pu Silver International (SPDB International) coordinated the deal. Lead managers and bookrunners include China CITIC Bank International (CNCBI) and Haitong International

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