In a warning report, Reuters has found that debt issuances by companies have reached near 2007 levels.
Finance/Venture
AgBank of China Will Issue Bonds
AgBank of China to issue 90 billion yuan worth of bonds. The Agricultural Bank of China Ltd will be issuing 90 billion yuan or US$14. 59 billion worth of bonds that are eligible for regulatory capital treatment.
ING Groep NV Sells Off Custody Services
ING Groep NV, in its move to cut back operations, sells off custody services in several central and eastern European countries.
KBC Banka purchased by Societe Generale Srbijia and Telenor Serbia
Telenor Serbia and Societe Generale Srbijia would divvy up assets of KBC Banka. KBC, the banking and insurance group from Belgium, announced that it had agreed to sell its Serbian subsidiary KBC Banka.
BB Seguridade Participacoes SA's IPO the largest this year
Banco do Brasil SA's BB Seguridade Participacoes SA IPO is estimated to be worth of US$4.2 billion.
Latest News
Citi hires Ben Story, former head of Deutsche Bank. Former Deutsche Bank head Ben Story has been appointed by Citigroup to become head of UK Investment Banking and Brokerage.
Rwanda prices Eurobond offer capped at US$400 million. The Republic of Rwanda, with a rating of B/B has offered to the market a ten year Euro denominated bond with a reoffer price of Eur98.
Emirates NBD has repaid its bailout funds in the amount of 3 billion UAE dinars. Dubai's largest financial institution, Emirates NBD has repaid for April the amount of 3 billion UAE Dinars or US$816.
In a surprising move, Ramky Enviro has suspended the scheduled IPO citing 'tepid market conditions.'
SDA rates cut by Bangko Sentral ng Pilipinas to limit inflows and increase outflows. For the third time this year, the Philippines has cut rates it pays on special deposit accounts in an effort to curb capital inflows and prevent asset bubbles.
Despite Nikkei highs, two major companies report losses for the period. The Nikkei index of Japan is now nearing a five year high as the share average jumped higher in the day's trading.
Eniro AB share values increased significantly after it was able to renegotiate its three billion kronor deal.
ICE's acquisition of NYSE Euronext would be reviewed by the EU competition regulator. The US$8. 2 billion purchase by Intercontinental Exchange of NYSE Euronext would be examined by European Union antitrust regulators.
Coop Group cancels deal with Lloyds on the sale of the Verde Network. The Lloyd's Banking Group planned the sale of over 600 bank branches of the Cooperative Group, which has fell apart after the Cooperative Group decided not to proceed with the GBP750 million deal.
