Two EM deals pulled in a week, but last chance market open, say investors

By Lewis McLellan
22 Oct 2020

Two EM bond issuers beat hasty retreats from the primary market this week. But despite the challenges the pair faced, bankers and investors believe the market is open for borrowers looking to pick up a bit of funding ahead of what is expected to be a tortuous US election. Lewis McLellan reports.

Ukraine’s Naftogaz made it all the way to market, revising price guidance and filling an order book of more than $500m, before abandoning its long six year transaction on Monday. The following day, the Turkey Wealth Fund, the country’s sovereign wealth institution, blamed hostile market conditions for its decision ...

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