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Emerging Markets

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How well the government handles the disaster could dictate its ability to push through difficult reform
Underwriting left unused after deal is 33% oversubscribed
Driving pricing lower was the small size and the green label

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  • Chinese plastic surgery social network So-Young International hit the road for its Nasdaq listing this week, eyeing proceeds of up to $179.4m.
  • Crédit Agricole turned to the Singapore dollar market on Wednesday to sell its latest subordinated transaction, marking the French bank’s first bond sale in the currency.
  • Luckin Coffee is brewing excitement in the US equity market after it confirmed plans for an IPO this week and filed a draft prospectus with the Securities and Exchange Commission. But while the Chinese coffee chain is being hailed as a major competitor to Starbucks, there is reason to think that assessment carries a lot of froth.
  • Xinyuan Real Estate Co tapped its existing 2021 notes on Wednesday, adding $100m to the bonds.
  • Suntec Real Estate Investment Trust (Reit) on Tuesday priced a placement of new units, increasing the size of the deal to raise S$200m ($147m).
  • Valdis Dombrovskis, vice president of the European Commission, joined a chorus of voices at a European Covered Bond Council plenary meeting in Riga this week in praising efforts to create a harmonised covered bond framework for the Baltic states. But market participants said the project still had some way to go, with those involved working hard to flesh out the final details.