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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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  • The China Securities Regulatory Commission (CSRC) has selected six domestic securities houses to be regulated on a consolidated basis. The move will grant these firms more flexibility in risk assessment and enable them to have a higher leverage ratio.
  • China’s official Purchasing Managers’ Index (PMI) recorded a sharp rebound in March as businesses slowly resumed their activity. While the strong figures led to a rally in the stock market, economists are warning against reading too much too soon into the data as challenges remain for the country’s economy.
  • Latin American corporates from across the rating spectrum are taking a range of measures to protect their liquidity in the face of the Covid-19 slowdown, but analysts suggest several defaults are inevitable as the region is hit on several fronts.
  • Fitch Ratings has downgraded the Maldives to B from B+ and revised its outlook to negative from stable, as the Covid-19 pandemic hits the island nation’s tourism industry.
  • Hong Kong-listed Shanghai Henlius Biotech got the go ahead from its controlling shareholders on Monday for a secondary flotation on China’s Star Market.
  • Logan Property Holdings has joined a few Chinese real estate companies in the offshore loan market, seeking a HK$2bn ($258m) borrowing.