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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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  • South Korean low-cost carrier Air Busan has filed preliminary documents with Korea’s stock exchange for the go-ahead to launch its IPO.
  • The Philippines’ Security Bank Corp offered a decent premium over its domestic peer to woo investors to its $300m bond offering on Monday.
  • Indian property lender Aavas Financiers has set the terms for its IPO as it reaches for up to Rp17.34bn ($239.5m) in total proceeds.
  • Mainland real estate developer Sunshine 100 China Holdings has raised HK$750m ($95.6m) from a five year convertible bond.
  • Goldman Sachs has named a new head of the financial institutions group in Asia Pacific ex-Japan, and a new co-chairman for global FIG.
  • The African Development Bank has become the first supranational bank to use a securitization sold to private investors to free up balance sheet capacity. The deal, four years in the making, demonstrates a new technique that could expand development banks’ firepower to promote development.