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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A promising year for the sukuk market has begun

S&P Global Ratings forecasts an increase in global sukuk issuance this year, as issuers in core Islamic finance countries return to the market amid exceptionally low interest rates and ample liquidity provided by central banks. “Market conditions should remain buoyant throughout 2021, with record-low interest rates and abundant liquidity,” the agency said. Total sukuk issuance is expected to be about $140 billion–$155

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