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Reliance-Aramco $15bn Deal to Complete This Year; Aramco Chair Inducted to RIL Board
India's Reliance Industries Limited (RIL) is set to complete a $15bn deal with Saudi Aramco this year, as per an announcement by Mukesh Ambani, Chairman of RIL during the company’s 44th Annual General Meeting (AGM). The deal for the sale of a 20% stake in RIL’s...
Mexico Surprises with 25bp Hike
Banxico, Mexico’s Central Bank unexpectedly switched to monetary tightening by raising its benchmark interest rate to 4.25% after a 3-2 split vote amid an inflation spike. All 23 economists surveyed by Bloomberg were surprised by the decision as Banxico is battling...
Keppel and Sembcorp Marine Plan on Combining O&M Businesses
Singapore's Keppel Corporation Limited (Keppel) and Sembcorp Marine Ltd (Sembcorp) have entered a non-binding memorandum of understanding (MoU) to combine Keppel Offshore and Marine (O&M) and Sembcorp Marine in a 50-50 Joint Venture which would give rise to a...
Sri Lanka’s Bonds Dip Further As July Maturity Looms
Sri Lanka's dollar bonds fell upto 7% on Thursday after trending lower since the beginning of the week. Bloomberg notes that the nation's ability to repay its debt is coming sharply into focus, as it nears the maturity date for its $1bn 6.25% bond due July 27. While...
Shui On, Shenzhen Exp Launch Bonds; Macro; Rating Changes; New Issues; Talking Heads; Top Gainers & Losers
US Markets continued to hover close to record-highs with the S&P slightly lower by 0.1% while Nasdaq was up 0.1% at an all-time high. Consumer Discretionary was up 0.6% while Financials and Energy were up 0.3%, providing support to the indices that were weighed...
Huarong Repays $250mn Dollar Bond
China Huarong Asset Management Co. has repaid a $250mn dollar bond that matured on Wednesday. This comes after the company had repaid a $900mn bond earlier this month. Huarong is one of the four biggest distressed asset management firms in China. Investors cited...
1H Green Bond Issuance Set to Exceed 2020 Full Year’s Issuance
The first half of 2021 is set to see global green bond issuance exceed 2020’s full year volume, set for an annual record for the year. Refinitiv data shows that the number of green bonds issued has more than doubled to 605 in 2021 so far vs. 293 in H1 2020, and...
Fitch Warns of Increased Risk at Sri Lankan Banks That Borrow to Buy Sovereign Bonds
Fitch has warned that Sri Lankan banks are at increased risk following the end of the suspension on banks’ investments in international sovereign bonds (ISBs) issued by the Sri Lanka sovereign. In December 2020, the central bank (CBSL) indefinitely halted investments...
Aramco Extends $10bn Loan by a Year with Improved Terms
Saudi Aramco has secured a one-year extension to a $10bn loan raised last year on improved terms, as per Reuters sources. While the loan came with an extension clause of 1Y at higher interest rates, the sources said that the oil giant has negotiated tighter terms...
