Emerging market issuers are moving to print in the bond markets as investors’ desperation for positive yield hits fever pitch. With some borrowers looking to refinance maturities falling due in 2020 and 2021, a pivot towards bonds from loans, and Gulf Cooperation Council sovereigns rumoured to be making moves, some bankers say this year could challenge the record for annual CEEMEA volume.
Volumes from the CEEMEA region are already at a year-to-date high, at $138bn equivalent. But the region would need to print $66.6bn more to hit the $204.6bn set in 2017. But by September 2017, $133.1bn of paper had been sold.
The low rates environment is giving investors opportunities