EM CEEMEA CREDIT: ETHOPI: AiP with OCC announced
Mar-21 13:17
Federal Democratic Rep of Ethiopia (ETHOPI; Caa3/SD/D)
• The Ministry of Finance of the Federal Democratic Republic of Ethiopia today posted on official social media news of reaching “Agreement in Principle with its Official Creditor Committee (OCC) on a Debt Treatment under the G20 Common Framework”.
• In particular, the post cites some USD2.5bn debt service relief over ’23-’28 timeframe with a smoothening of the external debt redemption profile.
• A Memorandum of Understanding will follow before implementation of agreements with individual members of OCC shall take place.
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EQUITIES: EU Bank put fly
Feb-19 13:14
SX7E (17th April) 170/165/160p fly, bought for 0.45 in 6k.
US TSY FLOWS: 10yr Roll trades in 60k
Feb-19 13:06
- As suggested earlier regarding Rolls, these could pick up with Friday's PMIs in mind, they will be concluded on the 27th for Gilt and 28th Feb for Treasuries.
First real notable clip goes through:
- TYH5/TYM5 is bought for 00+ in 50k followed by 10k
GILT PAOF RESULTS: The PAOF for the 4.375% Mar-28 Gilt was not taken up.
Feb-19 13:03
- GBP1062.5mln had been on offer.
- This leaves GBP13.631bln of the gilt in issue.
