Economic
Economic
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Key aspects of Ukraine’s unprecedented $20 billion debt restructuring deal
Ukraine announced on Monday a preliminary deal with a bondholder group to restructure $19.7 billion in debt. The ad hoc group controls 22% of the bonds, and the government said investors holding an additional 3% of bonds, also indicated their support for the deal. Source: REUTER
Ukraine reaches preliminary deal with bondholder group on $20 billion debt restructure
LONDON, July 22 (Reuters) – Ukraine said on Monday it had reached an agreement in principle with a group of creditors to restructure $20 billion of international bonds, bringing the war-torn country closer to an unprecedented debt rework. Ukraine’s announcement comes just over a week before a 2-year debt suspension agreement struck in 2022 is due to run out […]
Proprium Capital Partners to invest $100 mln in Italy’s growing student housing sector
Proprium Capital Partners will invest $100 million in projects in Italy’s fast-growing student accommodation sector, the real estate private equity firm said on Monday. It will acquire and develop two purpose-built student accommodation (PBSA) projects to provide accommodation for more than 1,600 students in total in prime locations in the northern cities of Milan and […]
Brazil’s central bank delays launch of new feature in popular payment system
Brazil’s central bank said on Monday a new feature for its popular Pix instant payment system aimed at automatically paying recurring bills will be launched next June instead of this October, as had been originally scheduled. The delay follows repeated calls from the Brazilian central bank’s governor, Roberto Campos Neto, for the approval of a […]
Bank of England plans expanded repo facilities to avert money market crunch
The Bank of England said on Monday that banks should get ready to make greater usage of its repo facilities as it sells down its government bond holdings, and that it would also seek to make its six-month repo more attractive. Repos, or repurchase agreements, allow banks to temporarily swap bonds they own for cash […]
European banks’ earnings in spotlight after big share price gains
Europe’s biggest banks report their second-quarter earnings this week, with all eyes on whether the gains from higher interest rates have run out of steam and if recent political drama is weighing on sentiment. The European Central Bank is expected to cut interest rates for a second time in September, but so far banks’ earnings […]
Vulnerabilities in non-banks leave door open to ‘shocks’, says G20 watchdog
Patchy progress on implementing reforms to make money market funds and other types of “non banks” safer has left the global financial system vulnerable to more shocks, the G20’s risk watchdog said on Monday. The Financial Stability Board said that many of the underlying vulnerabilities that contributed to incidents, such as central banks having to […]
StanChart-linked China Bohai seeks to dispose of $4 bln in bad loans
China Bohai Bank (9668.HK), opens new tab said on Monday it is looking to sell 29 billion yuan ($3.99 billion) worth of non performing loans as the faltering Chinese economy and deepening property sector problems pressure lenders to dispose of bad assets. The Tianjin-based bank, 16.2% owned by British lender Standard Chartered (STAN.L), opens new tab, expects a […]
