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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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  • Sixteen banks led Baa2/BBB rated Huatai Securities Co's $400m floating rate transaction on Wednesday.
  • Asian issuers found strong response to their dollar bonds on Wednesday, coming to the market after a rough start to the week on the back of the coronavirus-related volatility. As investors show their willingness to take on risk again, debt bankers are optimistic the pressure on the market will be lifted before long, writes Morgan Davis.
  • Bahraini iron pellet producer Bahrain Steel is in discussions with lenders to refinance an existing facility, according to bankers. The deal, some say, is part of a broader trend among emerging market borrowers seeking to secure more attractive conditions.
  • The Export-Import Bank of Korea (Kexim) raised $500m from a five year bond on Wednesday, becoming one of the first borrowers to reopen the dollar market after Chinese New Year and the rapid spread of a new virus.
  • Malaysia’s capital markets regulator is looking to position the country as the regional hub for sustainable and responsible investment, launching a new initiative to help corporations meet the United Nations’ sustainable development goals.
  • Chinese hotel company Huazhu Group, previously known as China Lodging Group, has closed its borrowing of about $1bn with 13 banks.