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Emerging Markets

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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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  • Chinese bank ICBC was forced to cancel its dual-tranche bond on Wednesday as a result of market conditions.
  • Hong Kong IPO hopefuls Babytree Group and Tongcheng-Elong Holdings announced deals drastically smaller than their initial targets this week. But despite the clear sign of trouble in the market, a few more Chinese companies are considering pushing ahead with their own listings before the end of the month. Jonathan Breen reports.
  • State Power Investment Corp’s $500m senior perpetual bond attracted plenty of demand in both the primary and secondary markets, despite coming with a structure that has fallen out of investor favour for much of 2018.
  • Enjoy the small things in life, so the saying goes, and when you have a bit of money, those small, frivolous, things can go a long way.
  • Export-Import Bank of Thailand has raised $300m from its first foray into the offshore bond market, generating $2.5bn of demand — and setting an important benchmark for the country’s issuers. Morgan Davis reports.
  • Bahrain-headquartered Gulf International Bank has successfully increased and closed a $500m loan, the bank announced on Wednesday.