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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

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  • A glimpse of the future has arrived with the publication of a report modelling the credit risk banks face from drought. The effect on loan portfolios could be severe — and the research illustrates the new kinds of risk management banks will have to do as the world’s climate becomes more volatile.
  • Poland’s largest covered bond issuer and national champion, PKO Bank Hipoteczny, has mandated leads to roadshow a prospective zloty-denominated covered bond benchmark.
  • Dual-class share (DCS) listings could “threaten” the quality of Singapore’s equity capital markets, warn international investors in a report sent to the country's exchange.
  • Aluminum Corp of China, Peking University Founder Group, Beijing Enterprises Holdings and Singapore’s Oxley Holdings all walked away with new bonds on Wednesday, wrapping up a blockbuster issuance week ahead of Easter.
  • CMB Financial Leasing is in the market for a $350m bullet that launched via three leads on Thursday, according to a banker arranging the deal.
  • Rural Electrification Corp chose not to exercise the greenshoe option on its $230m five year borrowing, resulting in a huge scaleback for many of its lenders.