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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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  • Vietnam Technological and Commercial Joint Stock Bank (Techcombank) has launched a $300m deal into general syndication, marking its second attempt at tapping the loan market.
  • Colombia consumer and payroll lender Credivalores will buy back nearly $155m of its senior unsecured bonds maturing in 2022 after completing a tender offer for the notes.
  • JP Morgan has promoted a whole new layer of leadership in its investment bank, reaching down to debt capital markets, equity capital markets and M&A. At the top of the tree, Carlos Hernandez has moved from being head of global investment banking to executive chair and has appointed new co-heads of global investment banking.
  • Australian healthcare business Genesis Care is borrowing A$1.4bn-equivalent to fund the buyout of 21st Century Oncology’s US business, giving loan investors a rare chance to put money to work at a spread north of 400bp.
  • Riyad Bank has tightened price guidance on its 10 year non-call five tier two bond, with order books at over $4.8bn for the note.
  • CEE
    Gazprom has released initial price guidance for a 10 year dollar benchmark at 3.625% area. A US investor said the deal was a “buy”.