South Africa's MTN Group secured several loan deals totalling US$1.3bn, which includes a US$750m 5-year amortising term loan, a ZAR4.8bn (US$332mn) 5-year loan and a US$250m 3-year revolving credit facility. Bank of America Merrill Lynch and Citigroup acted as bookrunners, underwriters and mandated lead arrangers. They were joined by Absa Bank, MUFG, JP Morgan, Mizuho, Standard Chartered and SMBC, Societe Generale and State Bank of India. The company is currently meeting investors ahead of a follow-on bond transaction.
Venezuela's state oil company PDVSA confirmed it is going ahead with a US$7bn bond swap to extend the maturity on its existing debt and buy the company much needed breathing room. The company is offering a new bond maturing in 2020 in exchange for bonds coming due in 2017.
Petróleos Mexicanos (PEMEX) sold US$4bn in dual-tranche 144A/RegS senior unsecured notes split evenly between 7-year (2023) and 31-year (2047) tranches yielding 4.625% and 6.25%, respectively. Bookrunners on the trade include Barclays, Citi, HSBC, MUFG, and Natixis.
The State Bank of India is set to issue the country's first offshore contingent convertible or "coco" bond after announcing the deal in late August. Bank of America Merrill Lynch, Citigroup, HSBC, JP Morgan, National Bank of Abu Dhabi, SBI Capital Markets and Standard Chartered are joint bookrunners on the trade.
Members of the Kenyan Treasury are looking to meet with US investors next month in the run up to a potential Eurobond sale. The country needs to borrow up to US$4.6bn to plug a yawning budget gap, according to the Kenyan government.
Peruvian Finance Minister Alfredo Thorne said the country will open up the Treasury Bill market to foreign investors, overturning limits imposed after it first started selling the bills in 2013.
Brazillian vehicle rental specialist Ouro Verde Locacao e Servicio will begin marketing a dollar denominated 144A/RegS bond this week. The company, which recently had its rating and outlook downgraded to 'BB-' and 'negative' respectively by Fitch, plans to issue up to US$300mn in senior unsecured notes.
Russian container terminal operator Global Ports Investments Plc has mandated banks for a possible US dollar bond sale this month. The bond is said to carry a 7-year tenor according to Fitch.
Russia's Sberbank could issue fresh rouble-denominated bonds later this year, according to a report from Reuters.
Argentina's Central Bank cut its 35-day reference rate by 50 basis points to 27.25%, a move aimed at pumping fresh cash into the economy. At the same time, analysts are becoming more optimistic about the country's ability to tackle inflation, predicting it to more than halve in 2017 - from 42% to just under 20%.
Brazil has announced plans to auction off licences to operate infrastructure such as roads, rail and airports, oil & gas and other electricity projects such as hydroelectric dams to boost investment.
The Eastern and Southern African Trade and Development Bank (PTA Bank) is in the market with a US$320.5mn dual tranche syndicated term loan, according to a report from Reuters. Citibank, Industrial and Commercial Bank of China, Commerzbank, Mashreqbank, Mizuho Bank, Standard Chartered Bank, SMBC and MUFG are lead arrangers on the deal.