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The Daily Roundup

Santander Chile issues a US$185mn Formosa bond in Taiwan – Gazprom places a €1bn 7-year Eurobond – Mexico to cut longer dated peso bond issuance in Q4 on market volatility – Agrokor extends debts – Avtodor plans 4-year rouble bond – Central banks of Peru and Korea keep rates on hold

Nov 11, 2016 // 11:52AM

Santander Chile has issued a US$185mn 5-year Formosa bond to yield 3-month LIBOR+120bp according to Reuters. Cathay United Bank, Credit Agricole and Standard Chartered were the bookrunners. Co-managers were Bank of Taiwan and Sinopac Securities.

Gazprom has placed a €1bn 7-year Eurobond at 3.125%. The deal was oversubscribed by 1.5x.

The Mexican Finance Ministry will cut the issuance of long-term peso bonds, namely fixed-rate and inflation-linked 10 and 30-year bonds for the remainder of Q4 2016, whilst increasing the amount of short-term peso debt sold at weekly auctions due to increased market volatility following Trump's victory in the US Presidential election, according to a statement from the Finance Ministry.

Croatian retail JSC Agrokor has extended around €840mn worth of debt, extending €340mn of debt by an additional 2-3 years as well as extending €500mn in short-term bilateral debt and club facilities.

The Central Reserve Bank of Peru kept its key interest rate on hold for the ninth consecutive month at 4.25% at a policy meeting yesterday.

The Bank of Korea has kept interest rates on hold at 1.25% for the fifth consecutive month at a policy meeting today.

Moody's Investors Service has revised the outlooks on Renaissance Credit Bank and Home Credit Bank from negative to stable.

Avtodor plans to open the orderbooks for 4-year RUB10bn bond with initial guidance set between 10.50% and 10.75. VTB Capital is the sole manager and bookrunner on the transaction.

Mexican industrial production decreased 1.30% year-on-year in September, down from a 0.31 year-on-year increase in August according to the Instituto Nacional de Estadistica y Geografia (INEGI).

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January / March 2020

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