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Meanwhile, LatAm sovereign announces mandate for a multi-tranche deal that could come next week
Sovereign closed 'remarkable' deal despite US Treasury pricing drama
Big, volatile week in EM raises questions around fair values
Data
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A rapid improvement in Ecuador’s bond yields could tempt it into a new issue, said Nomura on Tuesday, despite the government’s stated desire to stay out of bond markets this year.
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Eskom, the South African state-run power company, has said it could print its dollar bond as early as tomorrow and has confirmed that it will sell both standalone and government-guaranteed tranches. Investors have a wide range of views on fair value.
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Public Investment Fund, the sovereign wealth fund that invests for the government of Saudi Arabia, is seeking global bank lenders for a debut loan.
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EM bond markets around the world have been forced by difficult conditions to shut down early for summer. The only trade due this week, from South Africa's Eskom, will have to attract investors that are ready to hunker down and wait for September.
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India's SBI Capital Markets will no longer provide debt syndication or resolution services for private sector companies.
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KWG Group Holdings raised $350m from a three non call two year bond on Tuesday, but an aggressive tightening of 32.5bp resulted in the order book dropping by half from its peak.
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