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Monday, 23 October 2017

Top Stories from IFR Magazine - SSAR

Mongolia to tidy up debt profile

IFR 2206 21 October to 27 October 2017

The Government of Mongolia (Caa1/B–/B–) plans to buy back foreign debt due next year and issue new bonds to address its short-term maturities and complete a turnaround from last year’s economic crisis.

A young Chinese athlete exercises in front of a Chinese flag at a gymnastics hall at the Shichahai sports school in Beijing.

China snubs rating agencies for sovereign return

IFR 2206 21 October to 27 October 2017

The People’s Republic of China will go without international ratings for its first US dollar sovereign bond since 2004, raising doubts over whether it will still achieve its goal of setting a liquid global benchmark.

AOFM taps 30-year benchmark

IFR 2206 21 October to 27 October 2017

The Australian Office of Financial Management (Aaa/AAA/AAA) has tapped its 3.0% March 21 2047 Treasury bond issue for A$2.1bn (US$1.66bn), increasing the size of the sovereign’s first 30-year benchmark line to A$10.2bn.

TCorp opens 2029 benchmark

IFR 2206 21 October to 27 October 2017

New South Wales Treasury Corp, rated Aaa/AAA (Moody’s/S&P), raised A$1.1bn (US$864m) from last Wednesday’s syndicated sale of 3.0% April 20 2029 bonds.

KfW adds A$200m to Green 2020s

IFR 2206 21 October to 27 October 2017

German government-guaranteed agency KfW (Aaa/AAA/AAA) tapped its 2.4% July 2 2020 Green Kangaroo bond offering for A$200m (US$157m) last Wednesday, increasing the issue size to A$1bn.

Rentenbank adds to 2028 line

IFR 2206 21 October to 27 October 2017

Rentenbank (Aaa/AAA/AAA) tapped its 3.25% April 2028 Kangaroo bond for A$75m (US$59m) last Wednesday, lifting the issue size to A$175m.