Mon, May 17, 2021
A A A
Welcome mteam
RSS
Sovereign Wealth Funds Briefing 24.Feb 2016

Posted on 24 February 2016 by VRS |  Email |Print

A London court date has been set to resolve a long-running dispute over the leadership of Libya’s $67 billion sovereign wealth fund, potentially paving the way for litigation against two investment banks to move forward.
The Libyan Investment Authority (LIA) is mired in a power struggle between two would-be chairmen, Hassan Bouhadi and AbdulMagid Breish. A hearing will be held in the Commercial Court in the week beginning March 7, with the aim of determining which of the LIA’s two rival chairmen has the authority to bring litigation against Goldman Sachs and Societe Generale………………………………………..Full Article: Source

Posted on 24 February 2016 by VRS |  Email |Print

Two of Asia’s rarest quasi-sovereign credits choose the same day to launch landmark bond deals on Tuesday, with a $750 million global sukuk issue from Malaysian sovereign wealth fund Khazanah Nasional Berhad and a €1.1 billion deal from its Singaporean counterpart Temasek.
Both deals were ground breaking transactions in their own right given that Khazanah was bringing its first straight dollar sukuk and Temasek has never issued in euros before. However, some market participants queried why Temasek decided to press the button on its deal knowing that Khazanah was already in the market………………………………………..Full Article: Source

Posted on 24 February 2016 by VRS |  Email |Print

Sovereign wealth fund Temasek Holdings intends to launch a dual tranche 6-year and 12-year bond offering under its US$15 billion Guaranteed Global Medium Term Note Program. The notes will be issued by Temasek Financial (I) Limited and will be fully, irrevocably and unconditionally guaranteed by Temasek.
The proceeds from the 6-year T2022-EUR Temasek Bond and a 12-year T2028-EUR Temasek Bond will be provided to Temasek and its investment holding companies to fund their ordinary course of business. Temasek has been assigned an overall corporate credit rating of AAA by Standard & Poor’s Ratings Services and Aaa by Moody’s Investors Service………………………………………..Full Article: Source

Posted on 24 February 2016 by VRS |  Email |Print

Malaysia’s sovereign wealth fund Khazanah Nasional has returned to the US dollar bond market after 10 years. Bloomberg reported on Tuesday the issuer may price the US dollar bench 5Y bond, IPT +190bp area.
It said Khazanah was last in the US dollar market in 2006, when it sold a US$1bil 5.625% that matures on March 15. The wire report said the issuer met investors last month with Barclays, CIMB, MS, UBS. CIMB, DBS, StanChart are joint lead managers………………………………………..Full Article: Source

Posted on 24 February 2016 by VRS |  Email |Print

Reuters reported that sovereign wealth fund Khazanah is marketing a five-year US-dollar sukuk issuance. The report did not specify the amount that Khazanah intends to raise, but insiders reckon that the sovereign fund could be testing the market to see how much it could raise at rates amenable to it. CIMB, DBS and Standard Chartered are lead managers for the deal.
Going by one estimate, there could be as much as US$20bil (RM84.22bil) being raised by Malaysian entities, including the Government, Khazanah Nasional Bhd, Petroliam Nasional Bhd, Axiata Group Bhd and Telekom Malaysia Bhd, to name a few………………………………………..Full Article: Source

Posted on 24 February 2016 by VRS |  Email |Print

EFG International AG has agreed to pay 1.33 billion Swiss francs (US$1.34 billion) for Grupo BTG Pactual SA’s Swiss private-banking unit BSI Ltd in a deal that could catapult it into the nation’s top-five money managers for the wealthy.
The acquisition, which comes five months after Brazil-based BTG Pactual (BBTG11.SA) sealed a deal to buy BSI for 1.25 billion francs, will be paid for in cash and stock. Under terms of the deal, EFG will incorporate BSI, making BTG Pactual the No 2 partner in the combined firm after Greece’s Latsis family………………………………………..Full Article: Source

Posted on 24 February 2016 by VRS |  Email |Print

Heungsik Choo, the chief investment officer (CIO) of Korea’s sovereign wealth fund (SWF), Korea Investment Corporation (KIC), and two other executive management members have decided to step down. Choo joined the KIC as CIO in 2014. Prior to that, he was the head of the reserve management group at the Bank of Korea (BOK) from November 2011 to February 2014.
Young Kim, the SWF’s chief operating officer (COO), and Taeg Ki Hong, its chief risk and compliance officer, expressed their intention to resign from their positions on February 19, 2016. Kim joined the KIC as the head of the corporate planning and affairs group in 2007 and was promoted to COO in 2011……………………………………….Full Article: Source

Posted on 24 February 2016 by VRS |  Email |Print

Sovereign wealth funds (SWFs) might take a further $404 billion out of global listed equities in 2016 if oil prices stay between $30 and $40 a barrel, after pulling out about half that amount last year, a research organisation said on Monday.
The largest SWFs, accounting for about 89 percent of managed assets, sold $213.37 billion of listed equities in 2015, the Sovereign Wealth Fund Institute (SWFI) said, after an oil price crash triggered massive fund redemptions and relentless selling of foreign currency reserves by producers………………………………………..Full Article: Source

See more articles in the archive

banner
banner
banner
banner
May 2021
M T W T F S S
« Nov    
 12
3456789
10111213141516
17181920212223
24252627282930
31