EM borrowers bounce back after Dubai shock

04 Dec 2009

Emerging market borrowers are dashing back to investors for a final twirl on the dance floor before the year end, as markets recover from the shock of Dubai World’s debt standstill announcement last week.

Bankers agree that most of the Middle East is closed to new issues this year. But with Dubai World’s contagion barely reaching beyond the United Arab Emirates, borrowers from Latin America and Eastern Europe are venturing out to meet investors, and Lebanon has printed a sovereign transaction.

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