Showing posts with label Bonds. Show all posts
Showing posts with label Bonds. Show all posts

Wednesday, October 19, 2016

Saudi Arabia to Offer International Investors $17.5 Billion in Bonds

Gulf countries are increasingly raising funds through international markets

The Wall Street Journal

Oct. 19, 2016 7:27 a.m. ET
DUBAI—Saudi Arabia plans to raise up to $17.5 billion by selling bonds for the first time to international investors this week, two people aware of the transaction said Wednesday.

The kingdom also tightened its pricing guidance for the potential multi-tranche issue, which along with the estimated issue size reflects a strong appetite for the potential issue, bankers say.

For the five-year tranche, Saudi Arabia said it would pay around 140 basis points above U.S. Treasurys, compared with an initial guidance of around 160 basis points above U.S. Treasurys.

Tuesday, September 22, 2015

Greek Vote Spells Investor Opportunity

Alexis Tsipras’ Greek election win could spell further gains for the country’s high-yielding government bonds

The Wall Street Journal

Sept. 21, 2015 9:29 a.m. ET

Alexis Tsipras’ political gamble in calling new elections in Greece has paid off, returning his Syriza party to government. Buying Greek bonds also represents a gamble, but a potentially attractive one.

Thursday, April 9, 2015

Swiss, Mexican Bond Deals Represent Milestones for Debt

Switzerland is first with 10-year bond at negative yield as Mexico lines up 100-year euro bond
 The Wall Street Journal
By EMESE BARTHA in Frankfurt, CHIARA ALBANESE in London and ANTHONY HARRUP in Mexico City
Updated April 8, 2015 9:10 p.m. ET
Until Wednesday, no country had ever sold 10-year debt that gives investors a yield of below 0%. And no country had ever issued a 100-year bond denominated in euros.

Tuesday, December 9, 2014

Greek Government Bonds Drop as Presidency Vote Brought Forward

By David Goodman  Dec 9, 2014 11:27 AM GMT+0200

Greek bonds fell, with the nation’s 10-year yield climbing the most in almost six weeks, amid speculation that early Presidential elections will trigger renewed political turmoil.

German bunds advanced, with the nation’s 30-year yield dropping to a record low on demand for the safest assets as stocks and crude oil tumbled. Greek Prime Minister Antonis Samaras yesterday brought forward the process of choosing a new head of state to this month, a move that risks triggering parliamentary elections in the nation, which returned to the bond market this year. Anti-bailout group Syriza, which currently leads in opinion polls, welcomed the announcement.

Friday, October 10, 2014

Greek Bond Investors Look to Confidence Vote for Respite

By Nikos Chrysoloras and Antonis Galanopoulos  Oct 10, 2014 11:14 AM GMT+0300


After a monthlong rollercoaster for Greek government bonds and stocks, the country’s lawmakers are poised to give investors a brief respite.

Tuesday, September 16, 2014

Ratings upgrade subdues Greek yields, Irish supply eyed

Mon Sep 15, 2014 11:56am EDT

* Investors buoyed by S&P ratings lift

* PM Samaras says Greece will not need third bailout

* Fed meeting, Scotland vote pose volatility risks

* Spain's bonds claws back ground after torrid week (Updates prices, adds analyst comment)

By John Geddie

Friday, May 16, 2014

Peripheral bonds deepen losses amid Greek tax and political fears

LONDON Fri May 16, 2014 4:56am EDT
May 16 (Reuters) - Lower-rated euro zone bond prices slipped on Friday, deepening sharp falls on Thursday triggered by nervousness about the stability of the Greek government, a tax on foreign holders of Greek bonds, and weak growth.

Greece: Tax on Foreign Holders of Bonds Won't Be Imposed Retroactively

Greek 10-Year Yields Spiked By More Than Half a Percentage Point to 6.72%, Highest in Seven Weeks

The Wall Street Journal
May 15, 2014 11:45 a.m. ET

LONDON—The Greek finance ministry said Thursday a tax on foreign holders of Greek bonds that had caught investors' attention wasn't being imposed retroactively.

Friday, April 11, 2014

Rally expected in new Greek bonds when trade begins

LONDON, April 11 Fri Apr 11, 2014 5:12am EDT
(Reuters) - Yields on Greece's new five-year bonds, sold in the bailed-out country's return to markets after a four-year absence, were expected to fall below the sale price when they began trading on Friday.

Banks managing the sale said the bonds had already begun trading over-the-counter at yields below the 4.95 percent at which they were sold, although market participants were reserving their verdict on the deal until prices appeared on trading screens. That is expected to take place on Friday but depends on when the bonds are released to those who bought them.

Thursday, April 10, 2014

Greek Bond Sale Said to Top $4 Billion in Market Return

By Marcus Bensasson and Hannah Benjamin  Apr 10, 2014 12:20 PM GMT+0300
Greece is ending a four-year exile from international markets with a bond sale of at least 3 billion euros ($4.2 billion), more than the government estimated, according to a person familiar with the matter.

The order book for the issue, which carries a coupon of 4.75 percent, exceeded 20 billion euros, said the person, who asked not to be identified because he isn’t authorized to speak about it. A Greek government official told reporters in Athens yesterday that Greece sought to raise 2.5 billion euros in the five-year bond issue.

Monday, March 31, 2014

Dijsselbloem Says Further Greek Aid May Include Extending Loans

By Corina Ruhe  Mar 31, 2014 12:42 AM GMT+0300
Dutch Finance Minister Jeroen Dijsselbloem said Greece’s international creditors will decide after the summer on possible further aid, including extending the maturity of existing loans.

Greece’s economic situation is improving, and this has an impact on calculations of the country’s debt sustainability, Dijsselbloem said in an interview aboard a Dutch government airplane en route to Cyprus late yesterday.

Tuesday, March 18, 2014

Greek Bonds Lead Euro-Area Periphery Rally on Recovery Optimism

By Neal Armstrong and Lukanyo Mnyanda  Mar 18, 2014 6:24 PM GMT+0200
Greece’s government bonds led gains among Europe’s higher-yielding sovereign securities as optimism that the country is set to sell coupon-bearing debt for the first time in four years boosted demand for its assets.

Ten-year bonds rose for a second day after Infrastructure Minister Michalis Chrisochoides said Greece will probably sell securities before May. Greece reached an agreement with its creditors after a review of its adjustment program, a European Union spokesman said. Athens-based Piraeus Bank SA (TPEIR) sold non-investment grade debt. German bunds erased a gain as President Vladimir Putin said Russia won’t further split up Ukraine, damping demand for the euro area’s safest assets.

Monday, March 17, 2014

Portuguese Bonds Advance With Italy, Spain After Crimea’s Vote

By Lukanyo Mnyanda and Neal Armstrong  Mar 17, 2014 6:30 PM GMT+0200
Portugal’s government bonds rose as investors bet Crimea’s vote to leave Ukraine and join Russia won’t lead to serious conflict, boosting demand for the euro area’s higher-yielding assets.

Italian and Spanish securities also gained even as the U.S. and the European Union condemned the referendum and imposed sanctions on individuals in Russia. Greek bonds advanced as the nation was said to be approaching agreement with its creditors. German 10-year bunds, which rose last week by the most since September, declined. Portugal’s bonds have also been supported as the nation moves toward exiting a bailout program.

Tuesday, March 11, 2014

Beware Greeks Selling Gifts as EU Frets: Euro Credit

By Nikos Chrysoloras and Marcus Bensasson  Mar 10, 2014 1:35 PM GMT+0200

The European Commission, the European Central Bank and the International Monetary Fund have expressed a view that the Greek government may repeat past mistakes if it manages to slip the shackles of its bailout program

Monday, March 10, 2014

Greek Yields Drop to 4-Year Low, Stocks Rally Amid Troika Talks

By Neal Armstrong and Christos Ziotis  Feb 26, 2014 6:41 PM GMT+0200
Greece’s bonds jumped, sending yields to a four-year low, and stocks climbed on speculation the country will reach an agreement with international creditors to ensure its bank-recapitalization requirements are manageable.

Friday, January 17, 2014

Greece’s Bond Plans May Be Wishful Thinking

January 16, 2014, 9:12 AM ET

ByEmese Bartha
The Wall Street Journal
Greece wants to make a new start.

Boasting its first primary budget surplus in a decade, the country at the center of the European debt crisis wants to sell government bonds–possibly in the second half of the year–for the first time since the spring of 2010.

Various high-ranking Greek officials have expressed their wish to bring the country back to the debt markets. Most recently, finance minister Yannis Stournaras spoke about this at a briefing with foreign journalists who visited Athens last week as Greece took over the European Union’s helm.

Monday, January 13, 2014

Italian Bonds Gain After Nation Sells Most Debt Since May 2011

Bloomberg Businessweek
By Eshe Nelson and David Goodman January 13, 2014
Italy’s government securities advanced for a second day as the nation raised the largest amount from an auction of bonds in a single day since May 2011.

The nation’s two-year note rose for the first time in four days as the government sold three-year notes at a record-low yield. German bunds gained for a second day, with 10-year yields falling to match the lowest level in four weeks, after a U.S. report last week showed companies added workers at the slowest pace since January 2011. Bonds from Spain to Greece have rallied this year amid signs the European debt crisis is easing.

Thursday, January 9, 2014

Greece Dreams of Bond Sale in Rally From Ireland to Portugal

By Neal Armstrong and David Goodman - Jan 9, 2014
Europe’s financial markets are picking up where they left off 2013, extending a rally in bonds and stocks that’s making the region’s sovereign debt crisis little more than a fading memory.

Ireland sold bonds this week, returning to financial markets after completing a three-year bailout program. Portugal -- another aid recipient -- is holding a sale today. Banks in Spain and other periphery countries have never been able to borrow as cheaply as they can now. The Stoxx Europe 600 Index of stocks closed at its highest level since May 2008 yesterday and the euro is about its strongest since 2011 against the dollar.

Friday, December 6, 2013

Kazarian Says Greece Needs Clean Numbers for Investors

By Marcus Bensasson - Dec 6, 2013 2:01 AM GMT+0200
Paul Kazarian, the U.S. investor buying up Greek government bonds, calls the European Union’s accounting “completely irrational” and wants to help finance an alternative to allow Greece to return to the debt markets.
The founder of Japonica Partners & Co. said in a Dec. 3 interview in Athens that applying International Public Sector Accounting Standards would give bond markets the same kind of audited financial statements that equity investors are accustomed to. Kazarian, who started a tender offer for the Greek securities in June, said the EU method of measuring member states’ public finances overstates the level of indebtedness.

“If you really want to be back in the capital markets and soon, you have to deliver, you have to show some early wins,” Kazarian, 58, said. “Show your debt number, give access to it and verify it, and then have the dialogue: ‘So which number is right?’ Is it a legal definition that has absolutely no economic rationality to it, or is the world-class standard the right debt number?”

Thursday, December 5, 2013

Global shares stabilize after sell-off, euro firm before ECB

LONDON Thu Dec 5, 2013 7:43am EST

(Reuters) - European shares steadied on Thursday after three days of selling, as focus turned to whether the European Central Bank will offer any new economic stimulus after the Bank of England left its interest rates at a record low.

Markets remained under pressure amid speculation about the future of U.S. monetary stimulus. That kept bond yields elevated and left shares struggling to recover from this week's declines.

European shares .FTEU3 were virtually flat before the 1245 GMT ECB rate decision and 1330 GMT news conference, as traders waited to hear what the head of the bank, Mario Draghi, had to say..EU