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Emerging Markets

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  • Ho Chi Minh City Power has sealed Vietnam’s first syndicated financing in the onshore dong market, with a bevy of Taiwanese and South Korean lenders piling in.
  • The Republic of Slovenia has priced the flotation of Nova Ljubljanska Banka at a final offer price which values the bank at €1bn, fulfilling a commitment to privatise the bank before the end of the year.
  • Nigeria is rumoured to be planning the sale of a dollar bond, returning to the market for the first time since February.
  • DBS Bank is planning a roadshow ahead of its first dollar covered bond in over three years, and the first from a Singaporean bank since February 2017. The expected deal follows two large Canadian benchmarks and shows that dollar covered bond funding is becoming more compelling than euros.
  • Chinese technology giant Baidu grabbed $1bn from a bond on Thursday, while a local government financing vehicle (LGFV) in Hunan raised $300m from a deal that was less than twice covered at its peak.
  • China Development Bank Financial Leasing Co (CDB Leasing) raised $400m through its aviation leasing arm on Thursday, paying around 10bp of new issue premium for a three year floating rate note.