Cbonds Global

2022-02-01 13:10:18 Upcoming issue

Issuer: Сoruripe

Issue description: five-year bond

Date: soon

Bookrunners and Lead Managers: BTG Pactual, Citi, Itaú, Morgan Stanley are active bookrunners, Santander and XP Inc are passive bookrunners Open / Comment

2022-02-01 12:33:55 Upcoming issue

Issuer: BNG

Issue description: three-year sustainable bond

Date: soon

Bookrunners and Lead Managers: BMO Capital Markets, RBC Capital Markets, Scotiabank Open / Comment

2022-02-01 12:33:43 Upcoming issue

Issuer: Kommuninvest

Issue description: May 2024 bond

Date: soon

Bookrunners and Lead Managers: JP Morgan, BNP Paribas, Nomura, Nordea Open / Comment

2022-01-28 17:13:00 Upcoming issue

Issuer: Great Britain

Issue description: October 2073 Gilt

Date: the week beginning February 7

Bookrunners and Lead Managers: BNP Paribas, Deutsche Bank, Goldman Sachs, J.P. Morgan, Morgan Stanley Open / Comment

2022-01-28 16:55:26 Largest EM issues of Januarу 26-28

Issue | Volume

Hong Kong
Hong Kong Mortgage Corporation (Aa3/AA+/-), 2.8% 16feb2024, CNY 250 mln
Initial issue price (yield): 100% (2.80%)
Bookrunner: ANZ
Depository: Clearstream Banking S.A., Euroclear Bank

China
Sino-Ocean Group Holding (Baa3/NR/BBB-), 2.7% 13jan2025, USD 520 mln
Initial issue amount: 320,000,000 USD
Listing: Hong Kong S.E.
Bookrunner: Agricultural Bank of China, Bank of East Asia, CITIC Securities International, China Everbright Bank, China Huarong Asset Management, China International Capital Corporation (CICC), China Merchants Bank, Citigroup, Credit Suisse, HSBC, Haitong International Securities Group, Shanghai Pudong Development Bank, UBS
Depository: Clearstream Banking S.A., Euroclear Bank
Arranger Legal Adviser (Domestic law): King & Wood Mallesons
Arranger Legal Adviser (International law): Linklaters
Issuer Legal Adviser (International law): Paul Hastings

Chile
Chile (A1/A/A-), 2.75% 31jan2027, USD 1.5 bln
Initial issue price (yield): 99.94% (2.76%)
Spread to US Treasury bonds: 110 bp
Listing: London S.E.

Chile (A1/A/A-), 3.5% 31jan2034, USD 1.5 bln
Initial issue price (yield): 99.932% (3.51%)
Spread to US Treasury bonds: 170 bp
Listing: London S.E.

Chile (A1/A/A-), 4% 31jan2052, USD 1 bln
Initial issue price (yield): 99.05% (4.06%)
Spread to US Treasury bonds: 195 bp
Listing: London S.E. Open / Comment

2022-01-28 16:11:31 #CbondsAnalytics

Effective Commodity Tracker – Cbonds Data Indices

In the last year, Inflation turned out to be non-transient in most world economies, which increased commodity prices across multiple segments, including many industrial and agri-commodities due to Covid-19 restrictions and disruptions.
In December 2021, the US CPI rose 7.0%, while the figure was 5.0% in the Eurozone. These readings are a multi-year high. China's CPI came in at 1.5%, while Japan's number was 0.8% for December 2021. In the US, GDP grew by 2.1% in the third quarter, Eurozone GDP grew 3.7%, while Japan's contracted by 3.6% over the year. GDP growth was 4.0% in China during the 4th quarter.
This report, the 19th in the series, will cover CRB Index trends for the commodity, as displayed on the Cbonds platform. One can find commodity prices effectively in the Cbonds Indices section.
Over the last year, the CRB Index has risen 44.86% to 268 as of January 2022. During the last 2-months, the index has gained significantly, by 12.14%, to reach a 7-year high.
CRB Index is a commodity index that tracks prices of 19 commodities dominated by WTI crude oil followed by natural gas, precious and industrial metals, and some argi-commodities such as corn and soyabean.
The index is administered by Refinitiv Benchmark Services (UK) Limited and calculated based on the prices of commodity futures. The CRB index is the benchmark for many commodity ETFs globally.
The changes in the composition of CRB index components depend on trading activity and spreads consumption, production of products, correlation, inter- relationship with other relevant assets, and inflation movements.

Read the full report here Open / Comment

2022-01-28 13:09:38 Early bird registration on the IX Cbonds Emerging Markets Bond & Sukuk Conference

Cbonds Group is happy to invite you to the IX Cbonds Emerging Markets Bond & Sukuk Conference to be held in Dubai on March 28–29, 2022.

Special offer
- EARLY BIRD DISCOUNTED FEE 800 USD for the registration before February 11
-Representatives of the financial sector, based in UAE, are invited to participate for FREE
- Representatives of the buy-side are invited to participate for FREE

The agenda of the conference includes the following insightful topics:
Global macroeconomic trends and how they affect Emerging Markets: what will define market conditions in 2022? Where can we invest?
Forecasts and ideas for CEEMEA, Russia and the CIS, Asian bond markets;
ESG trends and bondholder perspectives;
Global high yield investment opportunities;
Keynote speech: Upcoming сrypto investing trends.Crypto markets for institutional investors.

Preliminary agenda is available by the link.
See full terms & participate Open / Comment

2022-01-28 12:59:15 Upcoming issue

Issuer: Inversiones La Construccion

Issue description: international debut bond

Date: soon Open / Comment

2022-01-28 10:27:22 Rating Actions in Foreign Currency on January 27, 2022

Fitch Ratings:

affirmed Ethiopia at 'CCC', no outlook

downgraded Kuwait to 'AA-' from 'AA', revised outlook to stable from negative;
Reasons: "The downgrade reflects ongoing political constraints on decision-making that hinder addressing structural challenges related to heavy oil dependence, a generous welfare state and a large public sector. There has been a lack of meaningful underlying fiscal adjustment to recent oil-price shocks and the outlook for reforms remains weak, despite some positive political developments as part of a national dialogue." Fitch's press release.

affirmed Korea at 'AA-' with a stable outlook. Open / Comment

2022-01-28 09:57:31 US Treasury Securities

Yield Curve

UST 2Y YTM:
1.18% ( 5 bp)
UST 5Y YTM:
1.66% ( 0 bp)
UST 10Y YTM:
1.81% ( 4 bp)
UST 30Y YTM:
2.09% ( 7 bp)

U.S. Treasury yields fell Thursday as investors digested a stronger-than-expected GDP report and the Federal Reserve’s latest policy update.

U.S. gross domestic product grew by 6.9% in the fourth quarter despite the spread of the omicron Covid variant, the Commerce Department said Thursday. Economists surveyed by Dow Jones were expecting to see 5.5% growth.

Comment: CNBC Open / Comment