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Thursday, 17 August 2017

Top Stories from IFR Magazine - SSAR

Development banks go long

IFR 2196 12 August to 18 August 2017

Inter-American Development Bank issued last week’s biggest SSA Kangaroo - a A$125m 10.5-year sale on Thursday via joint leads JP Morgan and Mizuho.

Gabon joins neighbours with tap

IFR 2196 12 August to 18 August 2017

Gabon managed to cover a US$200m reopening of its US$500m 6.95% June 2025s by three times, making a successful trip to the international markets for the first time since 2015.

Jamaica: Sovereign targets up to US$750m of bonds in buyback

IFR 2196 12 August to 18 August 2017

Jamaica has launched a cash tender for about US$750m of outstanding bonds maturing in 2019, 2021, 2022 and 2025.

NRW.Bank and FMS tack to short end

IFR 2196 12 August to 18 August 2017

NRW.Bank and FMS Wertmanagement both raised US dollars at the short end of the curve last week, although the two issuers adopted different approaches to the market.

Bahrain: Sovereign makes headway in bond preparations

IFR 2196 12 August to 18 August 2017

Bahrain’s government has hired banks for a planned US dollar-denominated bond, sources familiar with the matter said on Tuesday, with one saying the sovereign could be looking to raise as much as US$2.5bn.

Nigeria: Switching into dollars

IFR 2196 12 August to 18 August 2017

Nigeria plans to refinance US$3bn-equivalent of treasury bills denominated in the local currency with US dollar borrowing to lower costs and improve its debt position, Reuters reported the finance minister as saying last Wednesday.