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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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  • Howard Bamsey has stepped down as executive director of the Green Climate Fund with immediate effect, at the end of a four day board meeting described as "very difficult and disappointing" by the organisation's co-chairman.
  • Juan Carlos Varela, the president of Panamá, named Eyda Varela de Chinchilla as finance minister on Tuesday after Dulcidio de la Guardia resigned despite apparently impressive results.
  • Bahrain is no closer to accessing the capital markets for additional funding following its support package from its Gulf neighbours agreed last week, according to local investors. And nor is the appointment of Lazard as an advisor to the country seen as a precursor to debt restructuring.
  • Lietuvos Energija on Tuesday made full use of its green credentials to price a €300m bond with a much smaller new issue concession than has been seen on the majority of recent new issues.
  • Mainland firms Hujiang Education & Technology Corp and China Beststudy Education Group are planning to list in Hong Kong, having submitted IPO documents to the stock exchange.
  • Southern Gas Corridor, the 3,500km pipeline system costing $45bn that will run through Azerbaijan, Georgia, Turkey, Greece, Bulgaria, Albania and Italy, has signed a syndicated loan with guarantees totalling $750m-equivalent, as it begins its first commercial deliveries to Turkey.