Falling margin fever threatens further EM slowdown
Bank lenders expressed renewed concerns this week that lending to emerging market borrowers will remain muted throughout the second quarter, with borrowers in Russia and the Middle East stalling deals as they wait for margins to fall further. Other borrowers have reduced capex programmes and are so flush with cash they are even prepaying last year’s loans.
This is despite what some officials described as an unprecedented flurry of requests for proposals (RFPs) coming their way, and bidding on new mandates remaining very active.
In the background, there is a lot going on, and the deals you see happening are just the tip of the
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