Burkina Faso is set to issue a 2-year CFA35bn (US$59mn) bond, that will be sold to investors across the CFA currency region, according to the West African regional debt planning agency.
Saudi Arabia successfully raised US$17.5bn in the biggest ever bond sale from an emerging market, eclipsing Argentina's triple tranche US$16.5bn bond issued earlier this year. The notes sold at between 20bp and 30bp lower than initial guidance.
Nigeria is currently in talks with the Islamic Corporation for the Development of the Private Sector (ICD) about issuing the sovereign's first sukuk. The country plans to raise up to US$1bn through a combination of Eurobonds and sukuk. The ICD has helped other African sovereigns arrange their debut sukuk, including the Cote d'Ivoire, Senegal, and Togo.
The Republic of Suriname made its international capital markets debut this week, launching a US$550mn 10-year 144A/RegS bond at par to yield 9.25%. Oppenheimer and Scotiabank led the sale.
Santiago Solar secured a project finance facility worth US$119mn to help fund the construction of a 115-megawatt solar plant in Chile
Brazil's Central Bank cut its key interest rate for the first time in more than three years, lowering the benchmark Selic rate by 25bp to 14 %. Bank officials cited a dip in inflation, and an easing of the country's longstanding recession as drivers for the move.
Chilean SME financing group Tanner Servicios Financieros priced a CHF150m 3-year bond at par to yield 2.125% (MS+276.3bp). Credit Suisse was the sole lead on the deal.
Colombia’s government sent a tax bill to Congress that analysts believe is critical for maintaining the country’s BBB rating and reducing its deficit. The legislation includes a tax on dividends for individuals, an increase in the sales tax from 16% to 19%, and maintains the 0.4% banking transaction tax.
Former Brazilian Congress President Eduardo Cunha was detained by federal police this week. He faces charges of corruption, money laundering, and tax evasion, in yet another escalation of political risk in the country.
Trinidadian energy producer Trinidad Generation Unlimited (TGU) is roadshowing ahead of a possible US dollar bond launch next week. The proposed US$600mn senior unsecured notes due 2027 are being rated 'BBB-(EXP) by Fitch.
Russia's Polyus Gold has placed US$500mn 5-year senior unsecured bonds at 4.7%. IPTs were 5% area.
Turkey's Central Bank has kept its key interest rates unchanged this week, citing economic deceleration and a slight reduction in inflation. The Marginal Funding Rate has been kept at 8.25% and borrowing rate at 7.25%.
