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THURSDAY TICKER: OCTOBER 30TH 2014: - The re-election of President Dilma Rousseff on Sunday has important implications for Brazil's Baa2 sovereign rating, as well as for the credit quality of the country's banks, corporations and securitisations, says Moody's. The rating agency says the narrow margin of her victory underscores the challenges she faces as she looks to revive Brazil's lacklustre economic performance - Facebook has reported third quarter results, again showing strongest year-on-year growth in mobile, where daily active users (DAUS) rose by 39% to 703 million, while overall daily users rose 19% to 864 million DAUS - Francisco Partners, a global technology-focused private equity firm, today announced it has completed the acquisition of Vendavo, Inc., a leader in business-to-business (B2B) pricing solutions. David Mitchell, an operating partner of Francisco Partners, will join Vendavo as CEO and lead the company’s worldwide business strategy and operations. Incumbent CEO Neil Lustig will transition into an advisory role with Vendavo. Francisco Partners now has a controlling stake in the Silicon Valley company. The acquisition by Francisco Partners provides additional resources to bolster Vendavo’s aggressive growth strategy, enabling the company to expand sales and marketing while accelerating cloud development. Vendavo completed a record first half of 2014, with nearly 30-percent growth in bookings, and the release of two breakthrough solutions for price and sales effectiveness. Based in Mountain View, Calif., Vendavo provides revenue and price optimisation solutions for B2B mid-market and enterprise companies.Francisco Partners was advised by JMP Securities, and Vendavo was advised by William Blair. Financial terms of the transaction were not disclosed – The International Finance Corporation, or IFC, issued the four-year, triple-A rated bond only to Japanese retail investors, tapping into the growing interest in low-risk investments with a social or environmental focus. The World Bank, has sold several billion dollars in green bonds over the past six years, with proceeds going to help countries and firms cut greenhouse gas emissions and adapt to climate change. The latest offering, Inclusive Business bonds, would finance firms that work with or sell to the 4.5bn people in the world that make less than $8 a day. IFC said while most poor people do not spend a lot individually, as a whole they represent an estimated $5trn consumer market that firms could tap into - NAKA Mobile, a telecoms and technology specialist based in Switzerland, has claimed the industry’s first virtualised evolved packet core (vEPC). Utilising Cisco’s NFV services, NAKA claims it will transform its network architecture, expand beyond Switzerland, and provide its mobile Internet services to customers across the world - The Internet Society and Alcatel-Lucent have agreed to provide support and equipment for the development of the Bangkok Internet Exchange Point (BKNIX). The project will utilise the Internet Society’s Interconnection and Traffic Exchange (ITE) programme and is intended to deliver a stronger and more robust Internet infrastructure for South East Asia.

VTB Capital places TRY300m ($167.6m) bond issue

Thursday, 26 April 2012
VTB Capital places TRY300m ($167.6m) bond issue VTB Capital plc has successfully issued a three-year, TL 300 million ($167.6m) bond in Turkey, with a coupon of 11.28%. Underwritten by Garanti Securities, an agency of Garantibank, with Fokus Holding as advisor, the bonds were sold exclusively to local Turkish qualified investors, making VTB Capital plc the first ever foreign entity to have issued a local currency bond that has been distributed locally in Turkey. http://www.ftseglobalmarkets.com/

VTB Capital plc has successfully issued a three-year, TL 300 million ($167.6m) bond in Turkey, with a coupon of 11.28%. Underwritten by Garanti Securities, an agency of Garantibank, with Fokus Holding as advisor, the bonds were sold exclusively to local Turkish qualified investors, making VTB Capital plc the first ever foreign entity to have issued a local currency bond that has been distributed locally in Turkey.

A landmark deal for both VTB Capital and the Turkish capital markets in general, this transaction also represents a milestone in terms of the tenure offered in the Turkish market, with only one other local non-Sovereign entity having offered a three-year bond previously.

Priced at 11.28%, VTB Capital plc has achieved a favourable pricing level, paying a spread over the three-year Turkish Sovereign on par with the largest domestic Turkish banks.



Atanas Bostandjiev, CEO, UK and International, of VTB Capital plc, the bond, " underlines the strategic importance of Turkey for VTB Group, and will lay the foundations from which VTB Capital will look to grow its business operations in the country.”

Makram Abboud, CEO Middle East & Africa and Co-Head of the International Multi-Product Structured Origination and Distribution group for VTB Capital plc, notes: “I believe that trade and financial flows between Russia and Turkey will significantly increase in the very near future and VTB Capital is well positioned to help facilitate these flows and support our clients.As we continue to grow our international presence aggressively, we are evaluating various financing opportunities in the region, and in particular within Turkey. The proceeds will be utilised accordingly.”

"We were issuing Turkish bonds so naturally we needed to choose a strong local player to act as underwriter. Garanti Securities is one of the leading private banks in the local market." adds Abboud. "The transaction was fully sold down to Turkish investors.The bonds are priced at 11.28% so VTB Capital plc has achieved a favourable pricing level, paying a spread over the three-year Turkish Sovereign on par with the largest domestic Turkish banks."



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