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Emerging Markets

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◆ Gulf private placements bite back ◆ Bond new issue premiums rise ◆ CLOs catch a break
Business has sagged in the third quarter, but the pipeline is busy, despite an intractable war
Private bonds are now being offered in the open market wider than where public deals trade

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  • China’s Dongying Fangyuan Nonferrous Metals and Dongying Lufang Metals Material received strong demand during syndication. They have now closed their joint borrowing, raising $430m.
  • Some EM bond investors were hopeful that Friday would see the concessionaire operating Quito’s new airport break a hiatus of more than three weeks in Latin American new issues, despite not pricing as scheduled on Thursday.
  • Government-owned Costa Rican lender Banco Nacional de Costa Rica (BNCR) is looking to buy back a portion of its shortest-dated international bond.
  • Caribbean cable company Digicel returned to the bond markets on Thursday with a senior secured bond deal that allows it to repay funds drawn down on its revolving credit facility, as well as its bank term loan A.
  • SRI
    Firms can rake in more profit and investment through having more gender diversity in their workforce, according to two separate studies from the IFC, a member of the World Bank Group, and fintech firm Broadridge Financial Solutions.
  • Pitts-Tucker takes sole control of Nomura International IB — Hourican turns up at NewDay — NatWest hires RBC SSA banker