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In 2022, the Kazakh railway company aborted plans to issue in dollars
The bank is offering over 100bp of premium to the Kazakh sovereign
Data
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Views vary on the exact new issue premium the emirate paid
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Leads say guidance started flat to sovereign for new dollar deal
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EM dedicated investors will only buy if they have to, but GCC funds are flocking to UAE
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Cancelling dollar tranche seen as ‘inelegant’ but investors say more peso debt is encouraging
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Issuance has picked up and US data is encouraging, but demand is brittle
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Appetite is reviving for emerging market debt, but it must be handled with great care
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Sponsored by CAF – Development Bank of Latin America and the Caribbean
CAF gearing up to transform regional development
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Sponsored by Emirates NBD Capital
Emirates NBD Capital: An unrivalled conduit for Middle East liquidity
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Sponsored by European Investment Bank
European Investment Bank: Supporting sustainable development in North Africa