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Emerging Markets

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Six Middle Eastern and Asian banks are bookrunners on DAE's first loan since completing acquisition of Macquarie AirFinance
Africa’s largest IPO backed by Africa-focused Pan-African Refinery Investment after agreeing to $1bn underwriting programme
Treasury yields and oil continue to rise

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  • Yandex, the Russian internet company, has raised $800m through a sale of new shares to US investors and a private placement to a consortium of Russian oligarchs and VTB Bank.
  • The United Arab Emirates’ state-owned oil company, Abu Dhabi National Oil Company (Adnoc), has raised more than $10bn of investment from a consortium of firms in exchange for a stake in select pipelines. This is the second deal in 12 months in which Adnoc has raised international capital by leasing part of its pipeline network.
  • International bondholders have formed a specialist committee to conduct negotiations with Zambia after the country announced a liability management exercise to control its debt.
  • Pepkor, the South African retailer, raised R1.9bn ($110m) in a sale of new shares on Tuesday night to reduce leverage and to prepare it for the future impact of the Covid-19 pandemic.
  • Sri Trang Gloves priced its Bt15bn ($481.4m) Thai IPO at the top of the range this week, taking advantage of coronavirus-driven demand, strong international interest and a liquid domestic equity capital market. Jonathan Breen reports.
  • The Airport Authority Hong Kong has boosted the size of its loan to HK$35bn ($4.5bn), after receiving a strong response during syndication.