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Emerging Markets

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  • Malaysian home improvement retailer Mr DIY Group could file a prospectus with Bursa Malaysia for its $500m IPO as early as the end of June, according to a source close to the potential deal.
  • Indian conglomerate Larsen and Toubro is selling-down a batch of shares in subsidiary L&T Technology Services and is looking to raise at least Rp6.65bn ($96.2m).
  • Industrial and Commercial Bank of China (ICBC) hit two parts of the dollar curve on June 3, selling two tranches of floating rate notes worth $750m each.
  • The first results are emerging from the worldwide drive to get companies to think about how climate change is going to affect their businesses. Over 40% of the world’s biggest firms are now able to give an estimate of how much they expect to lose and gain. Collectively, they forecast twice as much upside as downside. But this may be optimistic, especially as the data are skewed to financial services.
  • Central American multilateral Cabei (Central American Bank for Economic Integration) has issued a request for proposal (RFP) for a potential first dollar benchmark since 2012, Latin American bond market participants told GlobalCapital.
  • CEE
    Renaissance Credit has announced its intention to come to market for a Reg S euro subordinated bond. The trade will be the borrower's first trip to the market in almost six years.