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Wednesday, 24 May 2017

Top Stories from IFR Magazine - SSAR

Senegal flag

Senegal at the vanguard of African risk

IFR 2184 20 May to 26 May 2017

The search for yield reached another level on Tuesday after Senegal got more than US$8bn of demand for its first bond in three years, paving the way for investors to reappraise other African sovereigns.

Seven in Kangaroo mob

IFR 2184 20 May to 26 May 2017

The European Investment Bank (Aaa/AAA/AAA) printed last week’s biggest Kangaroo trade with Thursday’s A$200m (US$148.5m) tap of its 3.10% August 17 2026 line to lift the issue size to A$800m. JP Morgan was sole lead manager for the reopening, which was priced at 99.521 to yield 3.16%, 72.5bp over the April 2026 ACGB.

Green Masala starter for ADB

IFR 2184 20 May to 26 May 2017

The Asian Development Bank raised Rs3bn (US$47m) from its first offering of Green bonds in the Masala, or offshore rupee, market to help finance climate change-related projects in India.

Societe Generale reopens Samurai market

IFR 2184 20 May to 26 May 2017

The new issue drought in the Samurai market came to an end last week, as Societe Generale sold senior non-preferred bonds and more foreign issuers lined up yen financings.

Onshore crunch cages Pandas

IFR 2184 20 May to 26 May 2017

China’s efforts to deleverage its financial system have dealt a serious blow to the growth of the Panda bonds market.

Brazil: Bonds crash on Temer payoff report

IFR 2184 20 May to 26 May 2017

A report that Brazil’s President Michel Temer had approved a hush-money payoff left the country’s bond markets in disarray on Thursday as investors reassessed their views of the sovereign.