ADNOC to tap debt capital markets via newly set up unit

Abu Dhabi National Oil Company (ADNOC), the United Arab Emirates (UAE) top oil producer, announced on Tuesday (Jan. 26), that it has created a new, wholly owned subsidiary, ADNOC Murban RSC Ltd (ADNOC Murban), to become its primary vehicle for selling debt. The company, named after ADNOC’s flagship crude grade Murban, prepares to sell bonds for the first time as the energy-rich

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Argentina to see rise in local corporate bonds issues

Argentina is set for an increase in issues of corporate bonds linked to Badlar, a reference rate for fixed-term bank deposits, after the central bank hiked its benchmark Leliq interest rate for the first time since November 2020, to slow down inflation and protect the currency. The Board of the Central Bank of the Argentine Republic (BCRA) on Thursday (Jan. 6) raised

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Uruguay to tap samurai bond market

Uruguay returns to the international bond market on Thursday (Dec. 2) with the sale of yen-denominated notes in Asia in a five-part deal with rates based on Japan’s Tonar, according to Cbonds. The South American sovereign issuer has set the price guidance between 45bp-60bp over the Tokyo Overnight Average Rate (Tonar) mid-swaps for the three year notes, 65bp-80bp for the five year notes,

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ECB takes first small step in withdrawing stimulus 

The European Central Bank (ECB) announced its decision on Thursday (Sep. 9) to lightly reduce its emergency bond purchases over the coming quarter, as policymakers worry higher inflation may last long. The Governing Council decided to buy bonds under its 1.85 trillion euro Pandemic Emergency Purchase Programme (PEPP) at a pace moderately lower than the 80 billion euros a month it bought

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Latam bond issuance continues to boom

Latin American (Latam) cross-border bond issuance has been strong in the first half of the year, as corporates across the region prepare for large bond maturities due in 2024 and 2027,  Fitch Ratings said in a report published on Tuesday (August 3). The total sales reached $36.8 billion in the first six months of this year, compared to $33.8 billion in the same

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UBS to pay (again) millions of dollars over Puerto Rican bonds

A regulatory arbitration panel on May 13 ordered Swiss giant wealth manager UBS Financial Services Inc. to pay $4.8 million to investors who lost money on Puerto Rican bonds. The complaint, filed in San Juan, Puerto Rico, in July 2019, accuses UBS Financial Services and UBS Financial Services of Puerto Rico of breach of fiduciary duties, breach of contract, unsuitability and unauthorized trading, among other infractions. The

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Natura tops Brazilian charts with $1 billion SLB deal

Brazilian cosmetics group Natura concluded on Monday (May 3) an international fundraising of US$1 billion in bonds linked to sustainability goals. The issue was carried out by its subsidiary, Natura Cosméticos S.A. with Natura & Co Holding S.A. acting as the guarantor. The seven-year notes mature on May 3, 2028 and carry an interest coupon of 4.125% per year, to be paid on a

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