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Tuesday, 24 April 2018

Top Stories from IFR Magazine - SSAR

Bonds for retail investors plummet after MiFID II

IFR 2230 21 April to 27 April 2018

Issuance of low denomination bonds has collapsed this year as new European Union trading rules appears to have left underwriters wary of falling foul of tighter rules on marketing products to retail investors.

Nicolas Maduro

Venezuela bondholders inch towards showdown

IFR 2230 21 April to 27 April 2018

Investors holding billions of dollars in defaulted Venezuelan bonds have formed at least one bondholder committee that is seeking a financial adviser, several sources said, in a sign they may be gearing up for a legal dispute.

A backdrop displays the title of Bond Connect at Hong Kong Exchanges in Hong Kong, China.

China issuers warm to Bond Connect

IFR 2230 21 April to 27 April 2018

Chinese issuers are increasingly targeting global investors for domestic bond offerings, as they look to take advantage of growing demand for onshore renminbi securities to broaden their investor relationships.

SSA issuers tap Kangaroos

IFR 2230 21 April to 27 April 2018

Triple A rated Inter-American Development Bank on Tuesday tapped its 3.10% February 22 2028 Kangaroo bonds for A$65m (US$50m) to lift the outstanding to A$605m, following reverse enquiries.

Indonesia: Republic seizes on upgrade

IFR 2230 21 April to 27 April 2018

The Republic of Indonesia (Baa2/BBB–/BBB) priced on Tuesday a dual-tranche offering of US dollar and euro notes to raise US$2.2bn, taking advantage of a rating upgrade from Moody’s this month.

NWB targets long end for affordable housing return

IFR 2230 21 April to 27 April 2018

NWB Bank will target the longer end of the euro market for its return to the Social bond sector, having mandated banks for a 15 to 20-year trade.