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Emerging Markets

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Business has sagged in the third quarter, but the pipeline is busy, despite an intractable war
Private bonds are now being offered in the open market wider than where public deals trade
Even as USTs stay near 5%, supply expected to pick up

Data

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  • The US financial regulator has permanently barred former Goldman Sachs executive Tim Leissner from the securities industry, for his role in the 1MDB scandal.
  • Equitas Small Finance Bank is planning a listing of new and secondary stock in India, having filed a draft prospectus with the market regulator on Monday.
  • Rising defaults by Chinese firms onshore have triggered sell-offs in numerous parts of the dollar bond market over the past few weeks. But international investors appear too complacent about the health of some of the largest debt issuers from the mainland. More scepticism is needed.
  • A subsidiary of Indonesian conglomerate CT Corp is talking to banks for a $750m refinancing loan, according to bankers close to the situation.
  • John Lee will become sole head of Greater China global banking at UBS next year, after co-head Xuewen Bi steps down from his day-to-day managerial job.
  • DBS has hired two bankers to join its syndicated finance team in Singapore.