Daily Roundup

Banco Continental secures US$100mn A/B loan – Codelco local market tap sees huge oversubscription – PBOC cuts back liquidity injection – RBI announces massive overhaul to corporate bond market

Aug 26, 2016 // 1:53PM

Banco Continental has received a US$100mn 3 and 5-year A/B loan consisting of a US$47mn 5-year A-loan and a US$53mn 3-year B-loan. The syndication was co-led by Bladex and Dutch development bank FMO 

Chilean state-backed copper miner Codelco issued CLP262bn (US$395mn) in an unscheduled issuance to secure funding for its investment programme over the next year. The bond carries a tenor of 10 years, a spread of 81bp over the Chilean Central Bank's 10-year notes and a yield of 2.09%. The issue was oversubscribed by 2.6x

The People’s Bank of China (PBOC) has resumed complementing lower-priced 7-day reverse repos with pricier 14-day repos in a bid to decrease the volume of liquidity entering the banking system

The Reserve Bank of India (RBI) has unveiled a slew of new regulations aimed at stimulating the country's corporate bond sector. The RBI says the move could help spur up to US$72bn in corporate bonds

Russian authorities are mulling an increase to taxes on oil producers in a bid to generate up to an extra US$6bn a year

Fitch Ratings has revised its IDR outlook on Ecuador to negative, citing deteriorating growth conditions

The Nigerian government has secured US$125mn loan from the World Bank to support health-related initiatives

The BRL rallied while yields on government bonds dropped slightly on the back of the commencement of the impeachment trial of Dilma Rousseff Thursday, which carried through to markets on Friday in early morning trading

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