Kipco conquers, but window for new issues slams shut behind them

Kuwait Projects Company’s $500m five year bond was hailed as a success with tight pricing and good size, but bankers said that as emerging market local currencies resumed their sell off, little other paper from the CEEMEA region is expected this week. Lead managers on the deal were divided as to whether the Kipco demand is indicative of CEEMEA appetite more broadly for the week ahead.