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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

Data

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  • Latin American multilateral lender Corporación Andina de Fomento (CAF) could tap Swiss franc bond markets this week after mandating for a green bond.
  • Empresa de los Ferrocarriles del Estado (EFE), the only operator of long distance passenger railways in Chile, is looking to debut in international bond markets with a 10 or 30 year bond of up to $500m.
  • South Korea’s Big Hit Entertainment, manager of K-pop boy band BTS, has won early-stage approval for its IPO.
  • Chinese electric vehicle manufacturer XPeng is aiming to raise up to $100m from a listing on the New York Stock Exchange.
  • The China Securities Regulatory Commission has published new rules for issuers of ‘company bonds’, offering a clearer timeline on the registration process. It also scrapped a credit rating requirement and lowered the bar for retail investors to invest in the market.
  • Chinese developers E.House and Beijing Properties closed taps to outstanding dollar bonds at the end of last week, raising $250m between them.