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DUBAI (Reuters) - EIG Global Energy Partners will lead a yet-unnamed consortium to issue billions of dollars in bonds across two or three transactions to replace bank debt backing an investment in Saudi Aramco’s oil pipeline assets, two sources said.
FILE PHOTO: General view of Aramco tanks and oil pipe at Saudi Aramco s Ras Tanura oil refinery and oil terminal in Saudi Arabia May 21, 2018. REUTERS/Ahmed Jadallah/File Photo
The Washington, D.C.-based firm’s consortium will issue bonds to replace $10.5 billion in so-called staple financing that was arranged by Aramco for potential suitors to take the 49% stake, the sources said.
(Updates with confirmation of sale; changes source to NTMA, adds quote)
DUBLIN, April 15 (Reuters) - Ireland raised 3.5 billion euros from the sale of a new 20-year bond on Thursday, the country’s debt agency said, in the latest long-dated issuance from a euro zone sovereign.
That is slightly higher than the 2 billion to 3 billion euro target a source indicated to Reuters on Wednesday, with the deal receiving final investor demand of more than 35 billion euros.
The funds were raised at a yield of 0.585%, the National Treasury Management Agency (NTMA) said in a statement.
Ireland has now raised 10.5 billion euros in 2021, more than half of which came via its first syndicated sale of the year, a 10-year deal investors piled into in January when the order book was in excess of 40 billion euros.
German 10-year yield falls after rising to four-week high Little impact on bonds from U.S. data (Updates prices)
AMSTERDAM, April 15 (Reuters) - Benchmark German bond yields fell from four-week highs on Thursday as the market turned its focus back to issuance with a long-dated bond sale by Ireland.
Ireland received 35 billion euros ($41.9 billion) of demand for a new 20-year bond that will raise 3.5 billion euros, slightly higher than the target reported by Reuters on Wednesday. The deal came hot on the heels of long-dated issuance from Austria and Spain this week and Italy last week, which issued up to 50-year maturities.
5 Min Read
(Reuters) -Citigroup Inc trounced first-quarter profit expectations thanks to a rebound in the broader economy and a jump in investment banking activity, and said it would exit some overseas businesses as new chief executive Jane Fraser starts to make her mark on the bank.
The country’s third-largest lender reported $7.94 billion in profit, triple $2.54 billion a year earlier, as it released funds set aside to cover pandemic loan losses and cashed in on a boom in listed shell company deals which has boosted underwriting income across Wall Street.
Citigroup’s share price was down 1% in morning trading.
“Our first impression is the incoming CEO Jane Fraser is striking the right cord on messaging a sense of urgency to undertake strategic changes that enhance the profitability profile,” bank analyst Saul Martinez of UBS wrote in a note.
(Corrects headline to show ban applies to participating in primary market)
FILE PHOTO: U.S. President Joe Biden delivers remarks on his plan to withdraw American troops from Afghanistan, at the White House, Washington, U.S., April 14, 2021. Andrew Harnik/Pool via REUTERS
(Reuters) - President Joe Biden will issue an executive order on Thursday authorizing the U.S. government to sanction any sector of the Russian economy and will use it to restrict Russia’s ability to issue sovereign debt to punish Moscow for interfering in the 2020 U.S. election, senior Biden administration officials said.
The officials, who spoke on condition of anonymity, said Biden would bar U.S. financial institutions from taking part in the primary market for rouble-denominated Russian sovereign bonds from June 14. U.S. banks have been barred from taking part in the primary market for non-rouble sovereign bonds since 2019.