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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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  • Signs of a revival in primary bond market activity were evident on Tuesday when four Asian issuers ventured out for new dollar transactions, setting the stage for what is set to be a busy September.
  • China’s impending Panda bond framework offered the country a chance to sort out a messy approval process that deters all but the most dedicated issuers. Instead, the country doubled-down on chaos.
  • HNA Group-owned Haikou Meilan International Airport’s international bond went on a rollercoaster ride in the secondary market on Monday, after the company missed the payment deadline on an onshore bond.
  • Impro Precision Industries revived its Hong Kong IPO plans on Monday, resubmitting its listing documents to the exchange.
  • India’s Reliance Industries has launched its long-awaited refinancing of around $2.7bn into general syndication, one month after mandating 17 lead banks to run the transaction.
  • Cambodian microfinance institution Hattha Kaksekar (HKL) is poised to sell the country’s first bond later this year.