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Emerging Markets

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◆ The threat of US corporate issuance to European borrowers ◆ The new funding environment for Middle East banks ◆ Reviving UK equity capital markets
Swiss investors retain appetite for credit as yields become more attractive
As war drags on, banks are boosting hoards of cash after deposit outflows

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  • Apologies millennials, but not everything needs to come with an added perk. Whatever happened to banking being boring?
  • Chinese property developer Jingrui Holdings made its first dollar outing of 2020 on Wednesday, raising $180m from the bond.
  • Sinic Holdings (Group) Co and JY Grandmark Holdings made their debuts in the dollar bond market on Wednesday. Both issuers opted to use a 364-day tenor to get the deals done.
  • Chilean power generator Colbún saw its new 10 year bond rocket on the break as Latin American credit was driven tighter by a rally in global markets.
  • Mexico state-owned utility Comisión Federal de Electricidad (CFE) returned to the Formosa market for the fourth time on Wednesday, clinching its largest trade yet in Taiwan.
  • Luminor Bank attracted strong demand for its debut covered bond on Wednesday, the first under Estonia’s legal framework and the first from the Baltic region. Despite a negative reoffer yield, it attracted a higher subscription ratio than any other five year euro benchmark issued this year.