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Emerging Markets

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◆ The threat of US corporate issuance to European borrowers ◆ The new funding environment for Middle East banks ◆ Reviving UK equity capital markets
Swiss investors retain appetite for credit as yields become more attractive
As war drags on, banks are boosting hoards of cash after deposit outflows

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  • The Banking Association of Turkey has set out a restructuring framework for the country’s banks to cut corporate borrowers some slack over loan repayments and credit availability, as the government and financial sector continues to take steps to limit the fallout from Turkey’s political and economic crisis.
  • Two Samsung-linked units are selling down their remaining shares in Samsung C&T Corp through an accelerated block that could raise as much as $829m.
  • CLSA has made two senior appointments to its fixed income and debt capital markets teams in Asia Pacific.
  • Brazilian pulp and paper producer Suzano Papel e Celulose’s CFO told GlobalCapital that he believes the company would have had to pay a higher rate on its latest dollar bond had it chosen to issue immediately after its roadshow.
  • More supranational banks will use synthetic securitization and other risk transfer techniques, specialists believe, after the African Development Bank’s trailblazing $1bn deal, revealed this week, writes Jon Hay.
  • Dubai headquartered DP World on Tuesday sold the largest bond from the Middle East so far this autumn — a quadruple tranche multi-currency bond — but supply from the region is still lower than bankers have been expecting.