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Emerging Markets

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Victoria Power Network makes first appearance in the currency
Missile alert stunted flow, but pricing still the main barrier
Pair bring first public non-bank deals from GCC since the start of the Iran War

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  • China Ping An Insurance Overseas (Holdings) found strong support for its $550m 10 year bond, defying initial concerns around volatility in longer tenors.
  • The rarity value of financial deals from Thailand allowed Kasikornbank to raise $350m from an additional tier one bond at a negative new issue premium on Tuesday.
  • Canned fruit and vegetables producer Del Monte Philippines has put its IPO on hold due to a jump in volatility and renewed Covid-19 lockdowns in the country.
  • The US regulator’s demand for more disclosures from Chinese companies planning New York listings may be a death knell for the flow of IPOs between the two markets — but it could go a long way towards offering investors some much-needed transparency.
  • Power company Genneia has become the latest Argentine company to look to refinance bonds with an exchange considered distressed by rating agencies, as capital controls in the country limit corporate issuers’ access to hard currency. Unusually, the distressed exchange will result in the issuance of green bonds.
  • Andrés Pérez, who has led Chile through two consecutive record breaking years of international bond issuance, has left his position as head of international finance at the Latin American sovereign to become chief economist at Itaú Chile.