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Meanwhile, LatAm sovereign announces mandate for a multi-tranche deal that could come next week
Sovereign closed 'remarkable' deal despite US Treasury pricing drama
Big, volatile week in EM raises questions around fair values

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  • Shandong Iron & Steel Group, Excellence Commercial Properties and Sunshine 100 China Holdings completed their offshore fundraising exercises on Wednesday after announcing their deals with final price guidance.
  • German carmaker and Panda regular Daimler issued a Rmb4bn ($576m) two tranche private placement this week, ending its Panda issuance for 2018. The issuer kept its focus on a shorter-dated tranche, which made up the bulk of the offer.
  • Baidu-backed video streaming platform iQiyi opened bookbuilding for a $500m convertible bond on Wednesday after US markets closed.
  • Edgar Madinaveitia, a managing director in Latin American debt capital markets at Credit Suisse, has left the bank, according to sources away from the bank.
  • Peruvian cement company Cementos Pacasmayo is trying to replace half its dollar bonds with a local currency bank loan.
  • Bankers love to advise their clients to look at the bigger picture and print now, for fear that that in just a few weeks or months, they could be facing a much tougher time. So the chorus of DCM officials criticising Russia for its timing in selling a €1bn seven year bond this week is more than a little hypocritical.