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Emerging Markets

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Six Middle Eastern and Asian banks are bookrunners on DAE's first loan since completing acquisition of Macquarie AirFinance
Africa’s largest IPO backed by Africa-focused Pan-African Refinery Investment after agreeing to $1bn underwriting programme
Treasury yields and oil continue to rise

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  • Eskom has released initial price guidance for its $1.5bn dual tranche bond but analysts and syndicate officials seem divided as to whether the premium offered over the sovereign is enough to make it a compelling purchase. But having set modest sizes for the notes, the large majority expect the trade to go well.
  • CEE
    The US has imposed sanctions on two senior officials in the Turkish government, prompting debt and equity markets to sell off and driving Turkish lira to over five to the dollar for the first time in history.
  • HDFC Asset Management Co has raked in Rp28bn ($407.9m) from its IPO after a big show of demand from institutional and non-institutional investors.
  • Veteran loans banker joins rival — HSBC names new India CEO — SBI Caps pulls out of debt syndication
  • Mainland telecommunications infrastructure giant China Tower raised HK$54.3bn ($6.9bn) this week after getting its mammoth float across the line at the bottom of guidance.
  • Chinese local government financing vehicle (LGFV) bonds are making a comeback in both the primary and secondary markets offshore, as the government suggests a shift in priorities from deleveraging to maintaining economic growth. But will the rally last — and for how long? Addison Gong reports.