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Colombia to boost domestic borrowing – Nafin to issue first peso Mexican peso green bond – Greenko taps the market - Odebrecht Engenharia e Construção SA gets downgraded – India working on corp bond market overhaul

Aug 23, 2016 // 5:12PM

  • Mexican state-owned development bank Nacional Financiera (Nafin) said it plans to issue MXN2bn (US$109mn) in the country's first local currency green bond. The move follows the issuance of its benchmark-sized dollar-denominated green bond last November
  • Greenko has sold a US$500mn 7-year green bond at 4.875%
  • Fitch Ratings has downgraded Banco do Estado do Rio Grande do Sul S.A.'s (Banrisul) Long-Term National Rating to A+(bra) from AA-(bra), and has revised the bank's outlook from stable to negative
  • Colombia said this week that it will increase its domestic borrowing to COP8tn (US$2.8bn) to fund this year's budget, the country's Ministry of Finance said
  • Moody’s has downgraded Odebrecht’s construction division, Odebrecht Engenharia e Construção SA, to B3 from B2, and revised its outlook from stable to negative citing liquidity and reputational risk
  • A wide-reaching report published by a Working Group at the Reserve Bank of India (RBI) suggested overhauling the country's bond market, advocating standardisation of corporate bond issuance, increasing the participation of foreign investors, the creation of a bond index, and encouraging corporates to tap the market among other recommendations
  • Dubai government-owned developer Nakheel has cleared its debts after repaying all sukuk-related payments amounting to AED4.4bn, paying an interest rate of 10%
  • The Indonesian government has launched its first ever savings sukuk for retail investors
  • Spotting downward pressure on the Yen, India's state-run ONGC Videsh Ltd (OVL) is mulling a Yen-denominated loan to help fuel future acquisitions, according to a report on Infracircle
  • Fitch has upgraded China’s Modern Land to B+ from B with a stable outlook

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