With conditions deteriorating across the board in the sovereign space amid the worsening COVID19 pandemic, Ukraine – which has seen surprisingly few cases so far – could come out stronger on the other end, Goldman Sachs analysis indicates.
20 Mar 2020
Vision 2030, Saudi Arabia’s ambitious plan to transform the economy and diversify away from oil production, has seen the country develop the largest project pipeline in the region. But the government’s apparent reluctance to raise funds through the debt capital markets risks undermining Vision 2030, according senior investment bankers based in the region.
18 Mar 2020
A successful no-confidence motion against Romania’s government has raised the prospect of early elections and may usher in a period of political instability, but the market has reacted relatively well according to ING emerging market strategist Trieu Pham.
7 Feb 2020
Nova Kreditna banka Maridor, Slovenia’s second-largest bank is planning to issue a EUR90.4mn subordinated bond – the bank’s first foray into the international capital markets since its 2013 default and subsequent privatisation.
6 Feb 2020
In January this year, Emirates NBD became the first Middle Eastern bank to participate with an international bond from Russia, but investors from the region have been increasing their exposure to Russian credits for some time.
4 Feb 2020
The GCC fixed income market outperformed all other emerging markets in 2019, delivering a return of 14.5%, as represented by the S&P GCC bond index.
27 Jan 2020
Kuwait has published its budget proposal for the fiscal year 2021, which reveals that the nation’s deficit will climb for the sixth consecutive year in a row to reach a record high.
24 Jan 2020
A preliminary agreement with the IMF on a vital USD5.5bn loan is an auspicious signal that a long-awaited economic recovery in Ukraine may be in the offing. But with the PrivatBank case and a number of other international litigation battles still simmering, bad headlines streaming from the US impeachment proceedings and little progress in establishing peace on the Eastern border, Ukraine still…
6 Jan 2020
More than two years have passed since the UK FCA’s Chief Executive Andrew Bailey set the deadline for the financial markets’ transition away from LIBOR, upon which roughly USD350tn in securities, loans and derivatives across five major currencies is contracted. Finding an alternative that can satisfy the diversity of markets that rest upon this crucial benchmark is proving to be more elusive than…
3 Dec 2019
After issuing Belarus’ debut corporate Eurobond in 2017, Eurotorg tapped the Russian market for the first time in July with its RUB5n issuance. Bonds & Loans speaks with Andrei Matsiavin, the company’s Chief Strategy and Investment Officer about Eurotorg’s strategic focus areas, issuing in the Russian market, and its future funding plans.
22 Aug 2019
Russia raised USD2.5bn in a dollar-denominated Eurobond sale in June, with USD1.5bn notes maturing in 2029 at a yield of 3.95%, and another USD1bn in notes maturing in 2035 at a yield of 4.3% - despite the ever-impending threat of sanctions.
14 Aug 2019
After becoming the first Belarusian corporate to enter the Eurobond market two years ago, Eurotorg is now breaking new ground with its RUB5bn Russian issuance. Receiving healthy demand from investors – both domestically and internationally – the issuance is indicative of a flexible and increasingly diverse financing strategy.
8 Aug 2019
EM remains under severe pressure. The less dovish than expected Fed, renewed trade tensions, and a broad-based dollar rally have conspired to absolutely crush EM FX and equities. These drivers are likely to carry over into this week and so we remain bearish on EM.
5 Aug 2019
Despite being caught in the turbulence that rocked emerging markets in 2018, Turkey remains an attractive destination for foreign investors, boasting strong fundamentals and a growing pipeline of projects in need of capital. Bonds & Loans spoke with Ahmet Burak Dağlıoğlu, Vice President of Invest in Turkey, about the growing role of Asian investment in the country, funding diversification and…
30 Jul 2019