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Emerging Markets

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  • Most investors agree that emerging markets are in for a big year, based primarily on an overdone sell-off at the end of last year. But Jan Dehn, head of global research at Ashmore Group, believes that the asset class will benefit from a big realignment in asset allocation in the medium term.
  • Emirates Development Bank, an agency guaranteed by the United Arab Emirates, hit screens for its debut five year Reg S benchmark on Wednesday, with initial price thoughts that looked promising to bankers away from the deal.
  • CEE
    The Russian sovereign is expected to come to market for a Eurobond, perhaps as early as March, but some investors are concerned that the strained diplomatic relations between Russia and the West make its paper too dangerous to invest in.
  • CEE
    Turkish lender QNB Finansbank has mandated six banks to arrange a dollar 5.5 year Reg S/144A benchmark senior bond, the first senior bond from a Turkish bank since March.
  • China’s Hefei Guoxuan High-Tech Power Energy is back in the offshore loan market, seeking a smaller deal with a juicier price after cancelling its debut international borrowing last year.
  • Chinese government-related issuers Zhaojin Mining Industry Co and Yunnan Provincial Investment Holdings Group Co priced dollar bonds after what bankers said was smooth bookbuilding, defying fears that followed a recent default by a local government financing vehicle.