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Emerging Markets

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Deep breath for market as more guidance, more mandates appear
Secondary market selling of private bonds may be wreaking havoc with the primary market for public debt but the trades were still the right thing to do
Sovereign's $3bn deal tightens well as Asian demand returns

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  • New Uzbekistan under the leadership of His Excellency President Shavkat Mirziyoyev is transforming in many ways. Economic reforms, including state-owned enterprise reforms and liberalisation, are among the key pillars of current structural transformations in Uzbekistan.
  • Bond market participants had been mostly confident that Ecuador’s government could see out mass public protest and stick to IMF-supported measures designed to shore up public finances — until last Friday, at least. But bondholders could be in for a tough time after the government backtracked on these measures.
  • Property manager Sichuan Languang Justbon Services Group has raised HK$1.59bn ($202.3m) from its IPO, after a surge of demand from institutional and retail investors, according to a source close to the deal.
  • China Lesso Group has increased a four year borrowing to around $1.1bn, after attracting 16 lenders during syndication.
  • BAC International Bank has returned to the loan market, seeking $100m from a global syndicate.
  • DBS has hired Deutsche Bank’s former Indonesia country head to run its institutional banking group in the southeast Asian country.