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Emerging Markets

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  • Equity capital markets bankers and investors are coming to terms with the idea that there may not be a trade deal to end tensions between the US and China this year, despite the former delaying some of its latest tariffs on Chinese goods until the end of the year.
  • US President Donald Trump’s delay to some tariffs on Chinese imports helped to soothe the nerves in emerging market bonds on Tuesday, but the fledgling optimism was soon stamped on by disappointing German data.
  • China IT company Chinasoft International has returned to the syndicated loan market after six years, seeking a HK$1bn ($127m) facility.
  • Zhenro Properties Group returned to the dollar bond market for the seventh time this year on Tuesday, tapping one of its March transactions for an additional $110m. But the market presented a whole different set of problems for the borrower this time round.
  • The People’s Bank of China (PBoC) bagged Rmb30bn ($4.3bn) through a two tranche trade on Wednesday. It was not the first time the issuer picked a curious time to sell Bills.
  • Indonesian state owned pharmaceutical company Kimia Farma is planning to raise capital through a rights issue of new shares, according to a stock exchange filing.