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Emerging Markets

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  • Emerging market bond investors are pessimistic about the chances of more Latin American deals appearing this week as market conditions grow more difficult.
  • Chinese automotive marketplace TuanChe is planning to float on the Nasdaq for up to $150m, filing a draft prospectus with the US regulator on Tuesday.
  • Xinyi Glass has dropped a non-financial covenant on its HK$750m ($96m) borrowing, which was launched into general syndication in August.
  • Korean Air Lines (KAL) closed a $350m secured deal on Tuesday backed by future ticket sales between the US and South Korea, executing the drive-by trade using a credit facility from Shinhan Bank.
  • Chilean savings and loans co-operative Coopeuch has diversified further its sources of funding by becoming the first triple-B rated borrower from Chile to issue in Asian bond markets.
  • Goldman Sachs has named Todd Leland as head of investment banking division (IBD) for Asia Pacific ex-Japan, as his predecessors Andrea Vella and Kate Richdale step up to become co-chairs for the region.