Wednesday, 18 October 2017

Robert Hogg' s stories

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  • Mitsubishi UFJ Financial Group Inc in Tokyo

    MOVES-Hussain Hussain takes over Middle East capital markets at MUFG

    Ticker | 18 October 2017

    Hussain Hussain has been appointed head of capital markets for the Middle East at MUFG, according to a source familiar with the matter.

  • Fidelity pays eye-watering coupon

    Emerging Markets | 13 October 2017

    Fidelity Bank recalled a bygone era with a comeback trade last Wednesday, paying a double-digit coupon for a five-year trade.

  • Two is the magic number for CEE sovereigns

    Emerging Markets | 13 October 2017

    Slovakia and Romania dangled yields above 2% for their respective trades last week, a level that is fast becoming the key watermark for investors considering EU sovereigns.

  • Tupras blitzes through sovereign

    Top News | 13 October 2017

    Tupras surprised even its lead bankers after overcoming an escalating spat between President Erdogan and the US government, its own commercial links with Iran, and a tragic accident at one of its storage facilities to sell its first dollar bond in five years.

  • Abu Dhabi tempts buyers with long bond

    Emerging Markets | 06 October 2017

    Abu Dhabi reached out to investors in Asia with its longest-ever international bond, tapping into a well of demand from insurers in the region.

  • Hungarian national flag

    Hungary opens books on euro bond return

    Ticker | 04 October 2017

    Hungary has opened books for its first euro deal in six years as it markets a 10-year bond at 125bp area over mid-swaps.

  • Jordan

    Jordan stretches out into the long end

    Ticker | 02 October 2017

    Jordan is out offering a new 30-year with IPTs in the high 7s as the sovereign makes a play for duration.

  • Saudi Arabian flag

    Saudi sequel is box office hit

    Top News | 29 September 2017

    The sequel to Saudi Arabia’s record-breaking debut trade may have lacked the wow factor of last year’s premiere, but the sovereign still managed to raise US$12.5bn at tight spreads against a jittery backdrop in Treasuries.

  • CBOM stages recovery after torrid price action

    Emerging Markets | 29 September 2017

    Credit Bank of Moscow’s perpetual bonds staged a dramatic rebound after undergoing a sharp correction on Monday.

  • Hungarian national flag

    Hungary primed for mainstream comeback

    Ticker | 26 September 2017

    Hungary is returning to the euro market for the first time in six years after announcing its intention to issue a 10-year bond in the currency.

  • Saudi Arabian flag

    Saudi Arabia hires banks for triple-tranche transaction

    Ticker | 25 September 2017

    Saudi Arabia is returning to the conventional US dollar bond market almost a year after its record-breaking US$17.5bn deal.

  • Russia compromises on deal targets

    Emerging Markets | 22 September 2017

    Russia completed a well-flagged tender and tap of outstanding bonds last Wednesday but the deal proved only a lukewarm success as the sovereign failed to hit its pricing target on the new issues.

  • © Mirage1 | - Close-up detail of a natural gas fired power station

    Lift-off for gas duo

    Ticker | 21 September 2017

    NorteGas is looking to make a debut splash with a senior bond as it refinances the debt from its summer acquisition.

  • Pennon hybrid reels in accounts

    Ticker | 20 September 2017

    Investors snapped up the chance to grab a rare sterling hybrid as Pennon Group filled books more than four times over for a £300m trade.

  • Pennon hybrid reels in accounts

    Ticker | 18 September 2017

    Investors snapped up the chance to grab a rare sterling hybrid bond, with Pennon filling books more than four times over for a £300m trade.

  • Ukraine

    Ukraine aims to uncork torrent of demand

    Ticker | 18 September 2017

    Ukraine is looking to build on momentum from a hit roadshow and a tender offer into a stellar comeback trade.

  • Bahraini flag

    Yield propels Bahrain to jumbo deal

    Top News | 15 September 2017

    Anxieties about a weak credit, a format under threat and a bitter regional dispute all melted away in the face of a decent yield, as Bahrain sold a US$3bn deal last Wednesday. The deal was more than five times subscribed.

  • Bahraini flag

    Bahrain dominates EEMEA trading day

    Ticker | 14 September 2017

    The Bahrain US$3bn new issue is dominating flows in the EM secondary market, according to a trader, as the notes find a bid and the shorter end of the curve pulls tighter.

  • Pennon offers scarce slice of sterling hybrid

    Ticker | 13 September 2017

    British water and waste management company Pennon is seeking to bolster its balance sheet and bring a rare hybrid to the sterling market in only the second such deal this year.

  • Unilever

    Sterling offers long-lasting shine for Unilever

    Ticker | 13 September 2017

    Attractive funding costs saw Unilever help itself to its largest ever sterling offering as the company printed £500m across a dual-trancher.

  • Vienna

    Austria sounds out investors for its first 100-year bond sale

    Ticker | 11 September 2017

    Austria is sounding out investors for a potential 100-year sovereign bond sale as soon as Tuesday, in what would be the first “century bond” to be sold publicly by a eurozone country.

  • Turk Eximbank logo

    Turk Exim gets EM ball rolling

    Ticker | 11 September 2017

    Turk Eximbank (Ba1/-/BB+) has kick-started the week’s EM primary market, with a US$500m no-grow five-year at 287.5bp area over mid-swaps.

  • Tajikistan's flag-bearer

    Tajikistan marks dynamic debut

    Top News | 08 September 2017

    Tajikistan took a hammer to its pricing process for its US$500m 10-year debut trade on Thursday, knocking off 87.5bp from initial levels as investors crammed in to get exposure to the emerging markets’ newest borrower.

  • Tajikistan's flag-bearer

    Tajikistan starts wide for debut US dollar bond

    Ticker | 07 September 2017

    Tajikistan has begun marketing its debut international bond at an attractive yield for investors as the sovereign seeks to get the deal off to a flier.

  • MOVES-Reich to take up Deutsche Bank role

    Ticker | 06 September 2017

    Ken Reich will join Deutsche Bank as head of emerging markets fixed income sales for Europe, the Middle East and Africa.

  • Ukraine

    Ukraine prepares for comeback

    Ticker | 05 September 2017

    Ukraine has mandated banks for its first US dollar bond deal as a standalone credit since 2013, according to sources.

  • Tajikistan's flag-bearer

    Tajikistan marks a new frontier

    Top News | 01 September 2017

    The emerging markets frontier, which has already encompassed a host of esoteric names this year, is set to be stretched further as economically fragile Tajikistan prepares for a debut international bond.

  • Otkritie Financial Corporation logo

    Otkritie's subs sink towards lows

    Ticker | 30 August 2017

    Otkritie’s subordinated bonds are see-sawing in secondary trading as the market attempts to assess where holders of the paper stand.

  • Logo of the European Financial Stability Facility (EFSF)

    EFSF targets duration bid

    Ticker | 29 August 2017

    The European Financial Stability Facility (Aa1/AA/AA) printed a new €2bn 23-year as it surpassed its funding target in long-dated notes for the second half of 2017.

  • Soldiers carry a giant national Tajikistan flag

    Tajikistan hires banks for debut US dollar bond

    Ticker | 29 August 2017

    The Republic of Tajikistan has appointed Citigroup and Raiffeisen Bank International as joint lead managers for a debut US dollar Eurobond, according to a lead.

  • Preparing for September bloom

    Emerging Markets | 25 August 2017

    Issuers from across CEEMEA are readying themselves for a run at the markets in September, looking to finish off a bumper year in style.

  • TMK

    TMK sights pre-financing opportunity - Sberbank

    Ticker | 22 August 2017

    Russian steel pipe manufacturer TMK is looking to pre-finance its US$500m 6.75% April 2020s, according to Sberbank analysts who followed a conference call the company held last Friday for the release of its IFRS results.

  • Kimberly-Clark looking to clean up in euros

    Ticker | 21 August 2017

    Consumer products company Kimberly-Clark Corporation is planning an inaugural into euros, having announced roadshow dates in Western Europe ahead of a seven-year benchmark transaction.

  • Gabon joins neighbours with tap

    Emerging Markets | 11 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.

  • Russia firms up swap proposal

    Emerging Markets | 11 August 2017

    Russia’s finance ministry has added detail to its debt swap plans by announcing that holders of the sovereign’s Eurobonds maturing in 2018, 2028 and 2030 will be able to exchange them for other bonds worth no more than US$4bn in total.

  • AIIB logo

    MOVES-Hartwick to join Asian Infrastructure Investment Bank

    Ticker | 10 August 2017

    Evelyn Hartwick is set to join the Asian Infrastructure Investment Bank in Beijing in mid-November, said Soren Elbech, AIIB’s treasurer.

  • Bahraini flag

    Bahrain makes headway in bond preparations

    Ticker | 09 August 2017

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

  • NRW.Bank logo

    NRW.Bank locks in dollars at tight end

    Ticker | 08 August 2017

    NRW.Bank sold a US$1bn 1.75% three-year on Tuesday as the regional German development bank continued the trend of recent weeks of issuers taking advantage of liquidity in the US dollar market to bring tightly priced deals.

  • Moscow

    Russia firms up swap proposal

    Ticker | 08 August 2017

    Russia’s finance ministry has added detail to its debt swap plans by announcing that holders of the sovereign’s Eurobonds maturing in 2018, 2028 and 2030 will be able to exchange them for other bonds worth no more than US$4bn in total.

  • Positive move as Cell C completes capital restructuring

    Ticker | 08 August 2017

    Cell C has completed a formal restructuring with its lenders, a move that has been viewed positively by the ratings agencies.

  • Gabon

    Gabon gets backing for tap

    Ticker | 08 August 2017

    Gabon managed to cover a US$200m reopening of its US$500m 6.95% June 2025s three times over, as it returned to the market for the first time since 2015.

  • Gabon

    EEMEA primary springs to action as Gabon taps

    Ticker | 07 August 2017

    Gabon has brought a spark of life to the EEMEA primary bond market with a US$200m no-grow reopening of its US$500m 6.95% June 2025s.

  • Iraq

    Iraq plans bond market return

    Top News | 21 July 2017

    Iraq is preparing its first bond deal in more than a decade as the Gulf nation seeks to become the latest frontier credit to take advantage of attractive yields.

  • Greece

    Greece comeback bond has to deal with debt ceiling

    Top News | 21 July 2017

    Greece has hired six banks to break a three-year impasse that has locked it out of the international debt markets, but the International Monetary Fund’s concerns around the sovereign’s debt sustainability has cast doubt on the trade.

  • Greece

    Greece chooses banks for bond return - sources

    Ticker | 19 July 2017

    Greece has hired six banks to arrange its comeback sovereign bond deal, according to sources, as it seeks to break a three-year impasse that has shut it out of the international debt markets.

  • Fans wave Ghana flag before 2010 World Cup soccer match between Ghana and Australia in Rustenburg

    Confidence rocked as Ghana retreats from IMF

    Ticker | 19 July 2017

    Ghana’s decision not to extend its three-year aid programme with the IMF beyond April 2018 has exposed the reliance of investor confidence on the multilateral, with the sovereign’s US dollar bonds shaky in the secondary market.

  • MOVES-Olcay Yagci joins Nomura as head of CEEMEA DCM

    Ticker | 17 July 2017

    lcay Yagci has taken up a role as head of CEEMEA debt capital markets at Nomura, according to his LinkedIn profile.

  • KMG aborts consent offer

    Emerging Markets | 14 July 2017

    KazMunaiGas has terminated a controversial consent solicitation, with market participants saying the company overreached with an ambitious covenant-stripping plan that was backed by insufficient fees.

  • The company logo of Russian natural gas producer Gazprom

    Gazprom steps on the gas

    Ticker | 13 July 2017

    It was a swift stroll through the primary market for Gazprom, with the Russian gas producer printing a SFr500m five-year during the morning.

  • KfW branch

    KfW bores into funding needs

    Ticker | 11 July 2017

    German development bank KfW raised €1bn in a 15-year deal due September 2032 off its EMTN programme, making some headway into its upsized funding requirement.

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