Saturday, 24 February 2018

Robert Hogg' s stories

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  • Kenya builds book bonanza

    Emerging Markets | 23 February 2018

    Investor appetite for African sovereign risk showed no signs of abating on Wednesday as Kenya became the latest name to attract huge demand for a healthy dose of yield.

  • Moldova: Trans-Oil misses shot at Moldovan landmark

    Emerging Markets | 23 February 2018

    Trans-Oil Group failed to become the first Moldovan corporate to tap the international markets as a lack of demand saw leads postpone the deal.

  • Akbank branch

    Akbank sweats on way to Tier 2 deal

    Ticker | 22 February 2018

    Akbank dived into the market on Tuesday with a US$400m Tier 2 offering, but the deal struggled to gain momentum as headlines about a potential escalation in the conflict between Turkish forces and Kurdish militia in Northwest Syria dented confidence in an already fragile buyside.

  • A military officer prepares to raise the national flag outside the Kenyan parliament in Nairobi

    Investors left in the dark over Kenya

    Ticker | 20 February 2018

    Kenya’s failure to appear on the screens has left investors scratching their heads, having expected to be getting to grips with a dual-tranche 10 and 30-year offering from the sovereign.

  • Israel Electric fizzes in primary

    Emerging Markets | 09 February 2018

    Israel Electric steered through choppy waters as it achieved its tightest reoffer spread in the dollar market on the way to raising US$1bn through 10.5-year senior secured notes.

  • Nostrum chalks off 2019s

    Emerging Markets | 09 February 2018

    Nostrum Oil & Gas printed a US$400m seven-year non-call three bond on Thursday as it raised funds for two bonds that are currently callable but are due in 2019.

  • Russian issuers brush off US list

    Emerging Markets | 02 February 2018

    A flow of Russian announcements demonstrated that the market was unfazed by the US Treasury’s publication of a so-called ‘oligarchs list’ on Tuesday.

  • Republic leads Green sovereign pack with comeback trade

    Emerging Markets | 02 February 2018

    Poland further grew its credentials as one of the leading sovereign Green bond issuers, becoming the only state to tap that market twice as others have yet to show their hand.

  • Poland

    Poland sets final terms for euro Green bond

    Ticker | 31 January 2018

    The Republic of Poland has launched a €1bn Green bond due August 2026 at 23bp over mid-swaps, according to a lead.

  • Capital plans pay off for Alfa-Bank

    Emerging Markets | 26 January 2018

    Alfa-Bank sold a US$500m perpetual non-call April 2023 AT1 note on Thursday as the lender brushed off concerns about problems raising capital in the Russian banking system.

  • Formosa frolics in the Gulf

    Emerging Markets | 19 January 2018

    The top Middle East banks have hit the Formosa market in size since the start of the year as lenders lock in low funding costs from an exclusive source of liquidity that only welcomes the highest-rated names.

  • Flag bearer of Oman Hatem Al Hamhami leads the team into the Opening Ceremony of the 17th Asian Games

    Oman lands heavyweight blow

    Top News | 12 January 2018

    Oman raised the equivalent of 10% of its GDP in the bond market on Wednesday, financing a hefty chunk of its burgeoning deficit in one swing despite a volatile rates backdrop.

  • PhosAgro logo is seen on a bag of fertilizer

    PhosAgro adds Russian flavour

    Ticker | 10 January 2018

    PhosAgro has brought a Russian flavour to the bond pipeline. The phosphate-based fertiliser producer is going to hit the road on January 12 backed by a phalanx of 10 banks. Five of those are global coordinators.

  • A Turkish flag is pictured on a boat with the Bosphorus bridge in the background

    Turkey pounces for new 10-year line

    Ticker | 09 January 2018

    The Turkish sovereign is out offering a US dollar benchmark due February 20208 at 5.40% area.

  • Deutsche Bank headquarters

    MOVES-Kivinen joins Deutsche Bank EM team

    Ticker | 08 January 2018

    Petri Kivinen has joined the emerging markets debt capital markets team at Deutsche Bank, according to sources familiar with the matter.

  • Sovereigns stocking up on January bonds

    Emerging Markets | 05 January 2018

    The CEEMEA pipeline woke from hibernation with a jolt last week as the screens filled with a number of high-profile sovereign mandates.

  • Slovenia’s national flag

    Slovenia sweeps to 10-year marker

    Ticker | 05 January 2018

    Slovenia kicked off CEEMEA primary issuance as the sovereign raised €1.5bn through March 2028 notes, with the deal pricing in line with fair value.

  • Logo of the European Investment Bank

    EIB makes sterling statement

    Ticker | 03 January 2018

    The European Investment Bank topped up its December 2023s and FMS Wertmanagement sold a £500m five-year in the sterling market on Wednesday on the back of well oversubscribed order books.

  • Denmark

    Nordic duo take a fancy to dollars

    Ticker | 03 January 2018

    A pair of Triple A Nordics are kick-starting the year for SSAs in US dollars, KommuneKredit eyeing a US$1bn three-year and Kommunalbanken hiring for a five-year benchmark.

  • Flag bearer of Oman Hatem Al Hamhami leads the team into the Opening Ceremony of the 17th Asian Games

    Oman aims to replicate 2017 success

    Ticker | 03 January 2018

    Oman is aiming to mirror a triple-trancher from last year with a new five, 10 and 30-year US dollar bond offering.

  • Deutsche Bank

    MOVES-Greenbaum leaves Deutsche Bank

    Ticker | 02 January 2018

    David Greenbaum, who was co-head of debt capital markets origination for Central and Eastern Europe, Middle East and Africa at Deutsche Bank, has left the bank, according to multiple sources.

  • Metinvest meets investors

    Emerging Markets | 15 December 2017

    Ukrainian metals and mining group Metinvest is plotting a return to the international bond markets in early 2018, according to an investor.

  • Promsvyazbank

    PSB sub sinks to bottom

    Ticker | 15 December 2017

    The value of Promsvyazbank’s AT1 bond was all but wiped out after Russia’s central bank said it will move to save the lender in the third Russian banking bailout this year.

  • Euro Bond House/Europe Investment-Grade Corporate Bond House: BNP Paribas

    Euro Bond House/Europe Investment-Grade Corporate Bond House: BNP Paribas

    All Special Reports | 15 December 2017

    Building on an already impressive track record, BNP Paribas maintained its standing in the single currency and once again helped navigate corporate clients through their fundraising initiatives. BNP Paribas is IFR’s Euro Bond House and Europe Investment-Grade Corporate Bond House of the Year.

  • Euro/SSAR/SRI Bond: France's €7bn 22-year Green bond

    All Special Reports | 15 December 2017

    France changed the landscape and pushed the boundaries of what was possible in the Green bond market, marrying state budget plans with best-in-class environmentally responsible financing while establishing a blueprint for the asset class.

  • Europe Investment-Grade Corporate Bond: Volkswagen's €3.5bn hybrid bond

    All Special Reports | 15 December 2017

    Volkswagen broke a two-year stranglehold after its emissions scandal to re-enter the capital markets in 2017, and in a series of successful comeback trades its €3.5bn hybrid bond issue was the high point that showed the automaker was back in style.

  • SRI Bond House: Credit Agricole

    SRI Bond House: Credit Agricole

    All Special Reports | 15 December 2017

    Green bonds completed the journey from niche market to mainstream product last year as France planted the first liquid Green benchmark in a sovereign curve. For its central role in arranging 2017’s landmark deal while driving growth and innovation across Green and Social-impact bonds, Credit Agricole is IFR’s SRI Bond House of the Year.

  • ESM

    EFSF and ESM increase 2018 funding target

    Ticker | 14 December 2017

    The European Financial Stability Facility and European Stability Mechanism have increased their combined funding programme for 2018 by €6bn from the initial target following a decision to pre-fund early 2019 rollover needs.

  • Oman

    Oman trades lower as Fitch cuts

    Ticker | 12 December 2017

    Oman’s bonds have dropped after a downgrade from Fitch on Monday night that has taken the sovereign close to high-yield territory.

  • REITs unearth mixed fortunes in the primary

    Emerging Markets | 08 December 2017

    There were contrasting fortunes for two CEEMEA real estate investment trusts that were seeking to make their debuts in the international bond markets.

  • Emirates REIT logo

    REITs unearth mixed fortunes in CEEMEA primary

    Ticker | 07 December 2017

    There were contrasting fortunes for two CEEMEA real estate investment trusts that were seeking to make their debuts in the international bond markets.

  • South African flag

    Growthpoint puts SA in spotlight

    Top News | 01 December 2017

    A South African real estate company is hoping that investors will look beyond the country’s economic plight and home in on its expansion strategy as it seeks to make a debut bond issue.

  • CeramTec logo

    Ceramtec buyout bonds near launch

    Ticker | 24 November 2017

    German industrial ceramics manufacturer Ceramtec has announced details around the senior notes leg of the €1.6bn debt package backing its buyout by BC Partners.

  • Oil pump jack

    Raffinerie Heide oil dividend recap stokes debate

    Ticker | 24 November 2017

    German refining firm Raffinerie Heide sold a €250m senior secured 5NC2 dividend recapitalisation deal on Friday, with a large chunk earmarked to go into the hands of shareholders.

  • Nigeria

    Nigeria cracks the long end

    Top News | 24 November 2017

    Nigeria strode into the market last week with the first 30-year bond from a sub-Saharan African issuer, excluding South Africa, as the allure of yield proved too much for investors to resist.

  • Covenant Review puts Adler consent under spotlight

    Ticker | 22 November 2017

    Analysts at Covenant Review have questioned the amendments Adler is seeking to make to its 2020 bond, saying a change in covenants would increase secured debt capacity.

  • Desalination

    Investors wait for Fujairah 1

    Ticker | 22 November 2017

    Fujairah 1 finished investor meetings on Tuesday but timing of the deal is unclear. A lead said the issuer is still entertaining the possibility of calls and the transaction is most likely to be next week’s business.

  • Spain Houses

    Colonial springs out of blocks with M&A refi

    Ticker | 21 November 2017

    Spain’s Inmobiliaria Colonial Socimi barely broke its stride in taking out a €1.2bn bridge loan as it launched an €800m dual-tranche bond offering.

  • View of the Renault headquarters in Boulogne-Billancourt, near Paris

    Renault makes inroads into premium

    Ticker | 21 November 2017

    Renault (Baa3/BBB/BBB-) upsized an eight-year offering by €250m on Tuesday as the French automaker repeated a price move from earlier in the year with a 22bp cut from IPTs.

  • McDonald's logo

    McDonald's offers taste of euros

    Ticker | 21 November 2017

    McDonald’s Corp served up two slabs of fixed-rate euro bonds for investors on Tuesday, as it made its second foray into the currency this year.

  • The flag of the Federal Republic of Nigeria

    Nigeria starts from wide for dual-tranche

    Ticker | 20 November 2017

    Nigeria has begun marketing a US dollar dual-tranche bond offering at attractive levels.

  • Nigeria seeks love for long bond

    Emerging Markets | 17 November 2017

    Nigeria will test appetite for the first 30-year tranche by an African sovereign outside of South Africa.

  • Israel: Sovereign sends RFP for international bond

    Emerging Markets | 17 November 2017

    Israel has sent a request for proposal to banks, according to sources.

  • StanChart

    MOVES-Bes and Mourad take new roles at Standard Chartered

    Ticker | 16 November 2017

    Aurelia Bes has joined as director in Standard Chartered’s debt capital markets team, focusing on FIG and corporate clients in Turkey, according to an internal memo seen by IFR.

  • Petropavlovsk secures crucial funds

    Emerging Markets | 10 November 2017

    Russian gold miner Petropavlovsk secured crucial funds in the bond market last Tuesday, in a deal that could mark a turning point for the Single B company.

  • Diversity at a cost for Argentina

    Emerging Markets | 03 November 2017

    Euro funding proved an expensive alternative to the dollar market for Argentina on Thursday, but the sovereign was willing to bear the price as it made another play to raise money away from the greenback.

  • MOVES-Deutsche Bank bolsters debt syndicate

    Ticker | 02 November 2017

    Deutsche Bank has hired Sam Wareham to bolster its European debt syndicate desk, according to market sources.

  • Qatar flag

    Bankers steer Qatar towards open-door policy

    Top News | 27 October 2017

    Bankers are advising Qatar to invite a broad church of banks into any potential bond sale to smother fears of Doha drawing a dividing line over a regional diplomatic crisis.

  • Investors chug down ADCOP offering

    Emerging Markets | 27 October 2017

    The Abu Dhabi Crude Oil Pipeline drew on a well of demand as books hit double figures for its US$3bn debut transaction.

  • Doha

    Bankers steer Qatar towards open-door policy

    Ticker | 23 October 2017

    Bankers are advising Qatar to invite a broad church of banks into any potential bond sale to smother fears of Doha drawing a dividing line over a regional diplomatic crisis.

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