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Emerging Markets

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◆ The threat of US corporate issuance to European borrowers ◆ The new funding environment for Middle East banks ◆ Reviving UK equity capital markets
Swiss investors retain appetite for credit as yields become more attractive
As war drags on, banks are boosting hoards of cash after deposit outflows

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  • Ganfeng Lithium, the world’s largest producer of lithium metals, has raised HK$1.46bn ($187.8m) from the sale of primary shares.
  • Tensions between the US and China dealt a blow to state-owned utility firm China Three Gorges Corp’s $1bn bond outing, which fell short of the lead banks’ pricing expectations.
  • Bangkok Bank sold its first Basel III-compliant additional tier one dollar bond on Tuesday, making it a rare bank capital offering from Thailand.
  • The local government of Inner Mongolia paid a heftier premium than usual for its bonds in China this week, raising some concerns over whether higher yields will remain as Beijing urges issuers to speed up deal flow.
  • Ming Yuan Cloud Holdings is set to wrap up bookbuilding for its up to HK$6.2bn ($796.7m) Hong Kong IPO on Thursday, following a flood of demand from global investors, according to two sources close to the deal.
  • Haitong International Securities Group has appointed David Ng as vice chairman of investment banking.