African governments are increasingly turning to unconventional borrowing strategies, as high global interest rates and volatile currencies keep many shut out of traditional dollar funding markets, according to Citigroup Inc.
Shares of Japanese metals refiner JX Advanced Metals Corp. slid after the company unveiled a plan to issue ¥250 billion ($1.6 billion) of bonds that can be converted into stocks to fund share buybacks.
Citigroup Inc. says central Africa’s monetary bloc should consider devaluing its currency, which is pegged to the euro, in order to boost economic growth and stem a slide in reserves.
Oil prices will continue to fluctuate wildly until it’s clear whether Iran and President Donald Trump will strike an agreement to end the war, according to Citigroup Inc.’s global head of commodities research.
Intel Corp. has kicked off the sale of investment-grade debt to help finance a $14.2 billion deal to retake full ownership of an Irish semiconductor plant.
