Call us on
+44 (0) 207 045 0920

The Daily Roundup

Egypt looking to borrow up to US$500mn from Indonesia in Q1 2017 – Indian banks receive large deposits following ban on high-denomination notes – Tinkoff Bank’s credit rating upgraded to BB- stable by Fitch – Nigeria’s DMO shortlists banks for US$1bn Eurobond – IMF approves US$12bn loan to Egypt – Indian ministry planning US$375bn worth of investments into road, transport and shipping sectors by 2019

Nov 14, 2016 // 11:06AM

Egypt is in talks with Indonesia over borrowing up to US$500mn by the end of Q1 2016, according to a Finance Ministry source speaking to Daily News Egypt.

Indian banks have received INR3tn (US$44.4bn) in deposits in the first four days since the introduction of a ban on high-denomination notes.

Fitch Ratings has upgraded Tinkoff Bank's credit rating from B+ to BB- with a stable outlook.

Nigeria's Debt Management Office (DMO) has shortlisted banks for a US$1bn Eurobond sale that will happen this year according to a source speaking to Reuters. The country already has US$500mn of commitments for the bond. Although the shortlisted banks have not been named, Citibank and Deutsche Bank have managed previous Nigerian sovereign transactions.

The IMF has approved a US$12bn 3-year extended fund facility (EEF) to Egypt, which will be re-payed over 10 years at an interest rate of 1-1.5%. US$2.75bn will be disbursed immediately to the Central Bank of Egypt, with the remaining funds being provided over a 3-year period, according to Daily News Egypt.

India's Road, Transport and Shipping Ministry is targeting US$375bn worth of investment into the sector by 2019.

Fitch Ratings has upgraded Ukraine's sovereign credit rating from CCC to B- with a stable outlook.

Chinese industrial production rose 6.1% year-on-year in October, at the same pace as in September according to the National Bureau of Statistics of China. Market expectations were for a 6.2% gain according to Trading Economics.

Bonds & Loans is a trusted provider of news, analysis, and commentary that helps illuminate the most significant issues, events and trends impacting the global emerging credit markets.

Want EM credit market insights delivered straight to your inbox?

Subscribe

Bonds & Loans
January / March 2020

Recommended Stories