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Daily Roundup

Brazil and World Bank to launch local government debt ETF – Oman Oil Company Exploration & Production looking for US$1bn loan – Bharat Petroleum Corp Ltd planning US$500mn bond or loan – Kenya to sell 15-year infrastructure bonds at 12% – National Bank of Abu Dhabi issues US$621mn 30-year Formosa bond

Oct 10, 2016 // 8:02AM

Brazil is working with the World Bank to create its first ETF for local government debt according to a government official speaking to IFR. The government is currently looking for a manager of the ETF, and is expected to launch the Fund early next year.

Oman Oil Company Exploration & Production (OOCEP) has appointed SMBC as financial advisor for a benchmark sized loan of up to US$1bn according to sources speaking to Reuters.

India’s Bharat Petroleum Corp Ltd (BCPL) is looking to raise US$500mn through a bond or external commercial loan according to sources speaking to LiveMint, with the proceeds used to refinance outstanding loans.

Kenya will sell a 15-year infrastructure bond at 12% as part of plans to raise up to US$296mn in October to fund water, road and energy projects according to the country's Central Bank.

The Panamanian government is looking to tap the international bond markets early next year according to the country's Finance Minister speaking to IFR, as part of its plan to raise US$2.6bn through the local and international markets as well as through multilaterals.

Panama’s Global Bank was on a roadshow last week for a potential senior unsecured bond according to Reuters. The deal comes alongside a tender for the Bank's outstanding 2017 covered bonds. Citigroup, Deutsche Bank and JP Morgan are mandated lead arrangers, with UBS as co-manager.

Omani Oil Company is in talks with banks over extending the maturity of its US$1.85bn revolver according to Reuters.

Mexico’s Nacional Financiera (Nafin) finished roadshows last week ahead of a possible US dollar-denominated bond Reuters reports. The roadshow was conducted through Bank of America Merrill Lynch and HSBC.

Suriname will head on a roadshow this week with the aim to issue its debut 144A RegS bond according to Reuters. Oppenheimer and Scotiabank are organising the meetings.

Mexican state owned utility Comision Federal de Electricidad (CFE) has finished roadshows through BBVA, Bank of America Merrill Lynch and Citigroup ahead of a possible US$1bn 10-year bond according to Reuters.

Argentine Banco Hipotecario priced a US$400mn-equivalent peso denominated bond last week to yield 250bp over BADLAR. BCP Securities, Deutsche Bank and Santander led the deal.

The Securities and Exchange Commission (SEC) has said that the Central Bank of Nigeria (CBN) has approved guidelines for granting liquid asset status to sukuk issued by state governments.

National Bank of Abu Dhabi (NBAD) has issued a US$621mn 30-year 'Formosa' bond.

Uruguay plans to raise the equivalent of around US$2bn in local currency in 2017 according to Reuters.  

Russia and Turkey are planning a joint investment fund to invest in tourism, energy, agriculture and transport projects according to RIA Novosti.

Nigeria is set to launch the Development Bank of Nigeria, which will help finance micro and small to medium sized enterprises. US$1.3bn is being provided by the World Bank for its launch.

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