By Mariam Meskin
30 Apr 2021
Trans-Oil Group, a Moldovan agriculture company, is planning to roll over its one year pre-export finance (PXF) facility this summer, having recently sold its lowest coupon bond. The issuer has had, on occasion, far from a smooth ride in capital markets, including a failed attempt at a bond debut in 2018.
Trans-Oil, rated B-/B by S&P
and Fitch, is planning to roll over its PXF of up to $180m. The loan is backed by both commercial lenders and development banks. The lead manager on the trade is ING. Other participants include the Banque Cantonale Vaudoise, Black Sea Trade and Development
By Mariam Meskin
29 Apr 2021
The Development Bank of Kazakhstan on Thursday launched a dual tranche bond in dollars and Kazakh tenge. Investor interest in emerging market local currency debt has increased over the last year, as the hunt for yield grows.
DBK, rated Baa3/BBB by
Moody’s and Fitch, was looking to print the bond in Reg S/144A format. The dollar tranche will mature in May 2031 with the local currency clip coming in shorter with a May 2026 maturity.Initial price thoughts for the 10
year dollar-denominated tranche were set at 3.375%
. Already a subscriber? Login
The Development Bank of Kazakhstan on Thursday launched a dual tranche bond in dollars and Kazakh tenge. Investor interest in emerging market local currency debt has increased over the last year, as the hunt for yield grows.
By Mariam Meskin
28 Apr 2021
Market participants rejoiced this week as the primary market landscape returned to normal after US Treasury yield volatility subsided and a number of deals, both investment grade and high yield, came to the market.
Already a subscriber? Login
By Mariam Meskin
29 Apr 2021
The Singapore-incorporated global energy company Puma Energy has bounced back after a planned bond issuance last year failed to materialise, raising $590m in the loan market. Sources say the company’s change of management and reorganisation brought a “sense of relief”.
Already a subscriber? Login