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Emerging Markets

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Victoria Power Network makes first appearance in the currency
Missile alert stunted flow, but pricing still the main barrier
Pair bring first public non-bank deals from GCC since the start of the Iran War

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  • Chinese chemical company EcoGreen International Group has returned to the offshore loan market after a three year break for $150m.
  • Stockor Ng, a former DBS loans banker, started his new job at China Citic Bank International this week, GlobalCapital Asia understands.
  • Bondholders are expected to fight a formal restructuring proposal from the Argentine government that should arrive on Friday and proposes heavy haircuts, say market participants. Argentina’s government appears ready to play hard ball.
  • Neil Tu, a vice president on CICC’s equity syndicate team, left the Chinese investment bank this week.
  • SK E&S, a South Korean energy company, has raised HK$11.55bn ($1.49bn) by selling most of its shares in China Gas Holdings near the top of the marketed range.
  • Bond markets handsomely rewarded Peru on Thursday for leading the way in Latin America on economic policy reaction to the Covid-19 crisis, notching its lowest ever dollar funding costs. As Peru’s public treasury director said the deal was to increase already substantial liquidity buffers, Lat Am bankers were left hoping the result would encourage more reluctant issuers.