DCM bankers seek LM opps but cash is king for EM corps

By Oliver West
19 Mar 2020

Even the top-rated emerging markets corporates are mostly preferring to keep cash on hand rather than take advantage of a sharp fall in bond prices to repurchase debt cheaply, bond bankers said this week.

As emerging markets face unprecedented capital outflows and EM currencies sink in the face of a strong dollar, even the apparently soundest of companies are taking a highly conservative approach to cash management, no matter if it means they miss out on reducing their debt burden at a ...

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