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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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  • Credit Suisse has been fined $77m by the US authorities to settle charges around its hiring of friends and family of Chinese government officials to win investment banking business.
  • Mainland real estate services firm E-House China Enterprise Holdings launched bookbuilding on Friday for a Hong Kong IPO that could raise up to HK$5.7bn ($727.2m).
  • China Grand Pharmaceutical and Healthcare Holdings has opted to pay for its acquisition of Australia-listed Sirtex Medical with a HK$2.9bn ($370m) rights issue.
  • Hong Kong-listed China Water Affairs Group (CWAG) has hit the Panda bond market for the first time, raising Rmb200m ($30.3m) from a private deal. Bankers think private placements and cornerstone-driven transactions are only going to get more attractive, in large part thanks to rising bond market volatility.
  • Defaulting Caribbean sovereign Barbados could end up forcing a 50% principal haircut on bondholders in its restructuring, said Exotix this week, as investors worried that an overly aggressive approach from the island nation would see it lose market access for the foreseeable future.
  • When it finally came, the result of the election that markets had feared all year in Mexico was comprehensive. But the reaction was underwhelming.