EM Search | Euromoney

BANKING

EEMEA market round-up: IFC issues local currency bond

The International Finance Corporation (IFC), the private sector arm of the World Bank, has issued its first local currency bond offering in sub-Saharan Africa. The XOF22 billion ($44.6million), five-year bond was placed in the eight West African Economic and Monetary Union member nations. IFC vice-president Nina Shapiro said: “IFC expects to follow this bond issue with structured products developed in partnership with local financial institutions.” BNP Paribas is leading the issue.

Jethro Wookey, January 01, 2007

CAPITAL MARKETS

Exchanges: EDX uses LSE’s popularity

London-based exchange launches derivatives on LSE-listed Russian stocks.

Florian Neuhof, January 01, 2007

Charlie Berman (above), co-head of fixed income capital markets at Citigroup

Opinion

Citigroup takes a haircut as Berman squeals for charity

Unsuspecting staff at the Citigroup Centre in London passing by the fixed-income trading floor were shocked to see their head of high-yield sales and trading, Mickey Brennan, and their head of emerging markets sales, Marc Pagano, getting their heads shaved while fellow staff members cheered on.

Peter Koh, January 01, 2007

CAPITAL MARKETS

Private EMTN Market - Year End 2006

January 01, 2007

BANKING

Zenit issues first local-currency Russian CDO

Bank Zenit issued the first collateralized debt obligation backed by a portfolio of Russian corporate debt last month. The Red Square transaction is a two-year synthetic CDO, denominated in roubles with 40 local credits. It is one of a handful of emerging market CDO transactions, and what makes it significant is that the underlying portfolio consists of local-currency debt.

Chloe Hayward, January 01, 2007

Hedge fund strategy: Top-down or bottom-up? What should FOHFs be doing?

Is manager or strategy selection the key for fund of hedge funds managers?

January 01, 2007

CAPITAL MARKETS

$ Denominated DCM - Year End 2006

January 01, 2007

What? Hedge funds like hedge fund indices?

The launch of Goldman Sachs’s Absolute Return Tracker Index in Italy in December has revived the argument about the value of passive hedge fund investing through indices compared with direct hedge fund investments or investment through funds of hedge funds.

Helen Avery, January 01, 2007

BANKING

Borrower view: Argentine province opens door to debt markets for sovereign

In October the Province of Buenos Aires issued its first international bond since the sovereign’s default in December 2001. The placement’s success demonstrates how far Argentina has since come. Hernan Lorenzino, the province’s under-secretary of finance, tells Chloe Hayward about this bond issue and its impact for Argentina.

Chloe Hayward, January 01, 2007

Opinion

Citigroup’s management window dressing

It could be that the bank is simply too large, and only disposals can change the culture. But the recent changes are, to date at least, a missed opportunity.

January 01, 2007

BANKING

Pensions: How much for the baby boomers?

The looming pensions crisis means individuals will have to take more responsibility, work longer and begin to save. If the US goes from a nation of spenders to a nation of savers, as it must, what will the impact be for the global economy, asks Gabriel Stein.

January 01, 2007

BANKING

Global imbalances: The bears zero in on Goldilocks

The causes of unprecedented global financial imbalances are complex, and understanding them is key to predicting what happens next. But do global economic prospects, as Brian Reading suggests, boil down to a simple question: will Americans stop wanting to borrow and spend before Eurasians stop wanting to save and lend?

January 01, 2007

Search results for