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Emerging Markets

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Driving pricing lower was the small size and the green label
New issue premiums average a little more this year than in 2025
◆ Europe's corporate bond market braces for US tech issuance surge ◆ Canada makes move for EU regs equivalence but to what end? ◆ Middle East private placements here to stay... but will take up less room

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  • Emerging markets investors are looking ahead to a series of privatisations in Kazakhstan following the economic reforms unveiled by outgoing president Nursultan Nazarbayev that should be implemented by his successor
  • After years of isolation, Uzbekistan has started to forcefully address its economic challenges and exploit its inherent advantages in a way that offers the potential to make this resource-rich market a stronger player in the global economy
  • Four decades after declaring independence, a successful Eurobond issue and major reforms show Uzbekistan is finally growing up and engaging with the world on its own terms
  • After being off limits to foreign investors for many years, Uzbekistan has raced to catch up for lost time by seeking investments by European banks and international financial institutions
  • After decades of self-imposed isolation, Uzbekistan is embarking on a range of projects with the help of Chinese assistance — and finance — to slowly start to stitch a recently remote country back into the global economy
  • Since late 2016, Uzbekistan has embarked on large-scale institutional, economic and social reforms under President Mirziyoyev’s administration.