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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

Data

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  • Adani Group, the Indian conglomerate founded by Gautam Adani, is considering a non-deal roadshow to Schuldschein investors, as Western private debt markets gain ground with companies in Asia.
  • Yandex, the Russian internet company, reopened the equity-linked bond primary market in EMEA after more than a month without any new issues, with a $1.25bn five year convertible bond. The deal was priced at the midpoint of the terms, suggesting healthy demand.
  • CEE
    Russian Railways is embarking on a roadshow to market the first ever green Swiss franc bond from Russia, even as fears of the spread of the Covid-19 coronavirus continue to infect EM bond trading.
  • Russian nickel and palladium producer Norilsk Nickel has refinanced an existing facility and in the process has increased the size of the deal and shaved the margins. According to bank lenders, the deal is one of many expected to enter the market by Russian borrowers seeking to obtain more attractive terms amid a drought in activity.
  • Standard Chartered’s global head of leveraged finance and structured solutions has left the bank, according to a source close to the situation.
  • India's market regulator has given Rossari Biotech the nod for an IPO that is expected to raise about Rp7bn ($98m).