HY and EM investors gorge on front-loaded supply
Corporate issuer debuts and long awaited sovereign market returns have given emerging market investors an array of trades to look at this week, surprising some who thought they were in for little more than watching the US Federal Open Markets Committee meeting on Wednesday.
Ukraine took $3bn out of the market on Monday, KazTransGas printed a $750m 10 year debut bond and South Africa’s $2.5bn dual tranche efforts on Tuesday have kept a constant stream of deals going this week.
“It’s been busier than we thought it would be,”
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