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Emerging Markets

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Two of Bulgaria's credit ratings now have positive outlooks
Some of last week's sovereign trades suffering on secondary
FIG
Meanwhile, LatAm sovereign announces mandate for a multi-tranche deal that could come next week

Data

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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