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Daily Roundup

Minerva markets retap of outstanding 2023s – GACM out in the market with a US$6bn green bond – CNCC finalises US$12.7bn acquisition loan – Russia to issue yuan-denominated bonds – Indiabulls Housing Finance hits the masala bond market

Sep 7, 2016 // 5:48PM

Brazilian beef company Minerva has started to market a bond sale following the launch of a tender for its outstanding 7.75% 2023s. Banco Bradesco, Bank of America Merrill Lynch, HSBC, Itau and JP Morgan are leading the sale.

Grupo Aeroportuario de la Ciudad de Mexico (GACM) has reportedly begun roadshowing a new green bond worth up to US$6bn to fund Mexico City's new international airport, according to a report from Reuters. Citigroup, HSBC and JP Morgan are acting as global coordinators. BBVA and Santander are acting as joint bookrunners. Read our interview with GACM CFO Ricardo Duenas Espriu.

The Central Bank of Nigeria (CBN) said it has approved sanctions on commercial banks participating under the Nigeria Electricity Market Stabilisation Facility (NEMSF), a programme offering loans for the country's distribution and generation companies, according to a report from the News Agency of Nigeria.

Provisions in Peru's recently passed Bill on Public Indebtedness suggest the country could issue up to US$6bn in new bonds to refinance more expensive debt.

China National Chemical Corp has finalised general syndication on a US$12.7bn loan to fund the acquisition of Swiss pesticides producer Syngenta AG. The acquisition carries a price tag of US$43bn.

Russia hopes to place inaugural yuan-denominated OFZ bonds in Moscow by the end of 2016, Russian Central Bank First Deputy Governor Sergei Shvetsov told reporters in Moscow this week.

Mortgage lender Indiabulls Housing Finance raised US$200mn (Rs1,350 crore) in masala bonds paying a coupon of 8.58%. Credit Suisse, Merrill Lynch, Citibank and Axis Bank were lead managers on the trade.

Croatian food and beverage producer Podravka signed a €123mn (US$137.3mn) 6-year syndicated loan deal with the European Bank for Reconstruction and Development (EBRD), Privredna Banka Zagreb, Raiffeisenbank Austria, SKB and Erste &Steiermarkische Bank.

Malaysia’s Public Sector Home Financing Board, which was set up to manage housing loans to public servants, is said to be mulling a MYR2bn (US$490mn) debut sale of government-backed sukuk, according to a report from Bloomberg.

Emaar Properties is said to be targeting a Thursday sale of dollar-denominated benchmark 10-year sukuk. Bank ABC, Dubai Islamic Bank, Emirates NBD, First Gulf Bank, Mashreq, National Bank of Abu Dhabi, Noor Bank, Standard Chartered and Union National Bank are lead managing the trade.

Otkritie Financial Corporation has mandated Citi, Credit Agricole and Societe Generale as joint global coordinators and several other banks as JLMs and bookrunners for a possible Eurobond issue according to Reuters. Meetings will take place from today in Europe and Asia.

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