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Emerging Markets

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  • Fund flows into emerging market bond funds hit a 76 week high in the week ending January 12, according to EPFR data, culminating a week of strong primary markets that a wobble in US Treasuries could do nothing to derail.
  • India’s Housing Development Finance Corp has won approval from its committee of directors to raise up to Rp129.9bn ($2.05bn) in fresh capital.
  • India's Tata Steel has lined up a group of 21 lenders for an up to $2.16bn six year loan, which will be launched into primary syndication in a couple of weeks, said bankers close to the deal.
  • Chinese issuers Peking University Founder Group, Bank of Communications Financial Leasing Co, Geely Automobile Holdings and Jinjiang International Holding are meeting investors this week ahead of planned dollar and euro bond sales.
  • Nomura has hired veteran banker Guy Smith as head of DCM and acquisition and leveraged finance for Asia ex-Japan, effective Monday.
  • Tata Steel, Tunas Baru Lampung and State Bank of India are on the prowl for dollars as they kick off their annual fundraising activities.