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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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  • India’s Varun Beverages has raised Rp9bn ($124.8m) after pricing its qualified institutional placement at the bottom of guidance, according to a source close to the deal.
  • WuXi AppTec took advantage of an incredible rally in its stock price and its rarity in the equity-linked market to raise $300m from a convertible bond that was a huge hit with investors. Rashmi Kumar reports.
  • Singapore-listed real estate company City Developments has raised a S$250m ($180m) loan to promote the United Nations’ Sustainable Development Goals (SDGs) through innovation. The company said it is the first deal of its kind.
  • Chinese local government financing vehicle (LGFV) Zhangzhou Jiulongjiang Group Co reopened the post-summer bond market with a $500m deal, making its debut in dollars.
  • Tata AutoComp Systems, an Indian company that provides automotive components, has returned to the loan market for a dual-currency deal to refinance its acquisition borrowing from 2017.
  • Latin American DCM bankers welcomed Tuesday’s blow-out bond issue from Mexico baking company Grupo Bimbo, saying that they believed it would trigger other borrowers to accelerate funding plans.