Emirates Islamic Bank launched the sale of US$750mn 5-year in sukuk. Pricing was 220 bp over midswaps, orders reached US$2.2bn. Arrangers were EIB, Standard Chartered, Al Hilal Bank, Bank ABC, Dubai Islamic Bank, HSBC, Maybank and Noor Bank.
Kenya Electricity Generating Company (KenGen) is set to raise US$286mn to finance power projects in Africa
Axis Bank to raise US$500mn through green bonds this week
Russia launched a 10-year bond sale, generating US$4.7bn in orders. VTB Capital is sole lead manager. IPTs are around 4.65-4.90% for bond.
United Capital and United Bank for Africa have inked a deal offering bank guarantees valued at N50.59bn (US$254mn) to the power generations companies (GenCos) on behalf of the Nigerian Bulk Electricity Trading (NBET)
Fitch upgrades Russian steelmaker Severstal’s rating from BB+ to BBB-with negative outlook
Fitch affirms Metalloinvest's BB rating with a stable outlook
Bank of Indonesia considers loosening lending rules to stimulate credit
Indonesia's Bank Permata plans US$405mn rights issue
China's Ministry of Finance plans to sell US$458mn in London's offshore RMB market as early as this week
SACE boosts Middle East presence with new Dubai office
Brazil's Marfrig Global Foods announced US$500mn note buyback programme
Dubai Electricity and Water Authority (DEWA) upgraded to 'BBB+' with a stable outlook by S&P on stronger financial profile
Bahrain-based Arab Banking Corp. outlook revised to negative by S&P on rising economic risk; 'BBB-/A-3' ratings affirmed