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Emerging Markets

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The trade is the first from a 'mid-tier' Uzbek lender
The dollar market is offering cheaper funding at the shorter end
Victoria Power Network makes first appearance in the currency

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  • United Hampshire US Real Estate Investment Trust has launched Singapore’s second Reit listing of the year. The deal comes as volatility around the world has brought many IPO markets to a halt, with investors looking for safe-haven opportunities. Jonathan Breen reports.
  • BMW sold an ultra-cheap auto loan securitization in China last week, giving a clear demonstration of investor appetite for highly-rated credits despite the coronavirus epidemic. But other auto financing companies (AFCs) should be realistic about their chances of repeating this success, as liquidity is drying up quickly.
  • JP Morgan has picked Filippo Gori as its new chief executive officer for Asia Pacific, replacing Nicolas Aguzin, who is now running the firm’s international private bank.
  • Chinese local government financing vehicle Xi'an Qujiang Culture Holdings Co raised $300m from a three year bond sale on Wednesday.
  • MUFG has put one of its co-heads of debt capital markets at risk of redundancy.
  • Omani gas transportation company, Oman Gas Co, a branch of state-owned Oman Oil Co, has sold an $800m credit facility to local lenders.