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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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  • Lendlease Global Commercial Real Estate Investment Trust has hit the road for its Singapore IPO as it seeks up to S$740.3m ($537.9m), according to a source close to the deal.
  • HSBC has named Philip Lee as vice-chairman, southeast Asia, for its global banking franchise. The position is a newly-created one as the bank seeks to beef up its presence in the region.
  • Socam Development, part of the Shui On Group, became a victim of a weak market backdrop this week, pulling a planned dollar bond after investors balked at its pricing expectations. Addison Gong reports.
  • Brazilian state-owned oil and gas giant Petrobras will issue a new long 10 year of over $4bn after existing bondholders agreed to participate in an exchange offer that will see them swap old notes for a combination of cash and new paper.
  • CEE
    The blow to oil production in the Middle East seems to have boosted demand for Russian petrochemical giant Sibur's five year dollar benchmark on Monday — the issuer’s first bond in two years.
  • Sources close to the listing of Saudi Aramco, the state-owned oil producer, have confirmed that they are working flat out to bring the Saudi company to market before the end of the year, despite attacks on its oil fields over the weekend.