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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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  • Mainland-based Jiayi Education Holdings, an after-school tutoring company, has dropped its Hong Kong listing plan following news of a radical change to China’s education sector.
  • The Export-Import Bank of China has sold a renminbi-denominated perpetual bond, becoming the first among the country’s three policy lenders to tap the onshore debt market for additional tier one capital.
  • Chinese biopharmaceutical company I-Mab is moving ahead with plans for a dual listing in Shanghai, as it looks to broaden its investor base.
  • Avic International Leasing Co turned to the euro market on Tuesday for a sub-one year bond, but the deal’s short tenor and a rough issuance backdrop led to tepid investor response.
  • South Korea’s financial regulator has stepped up scrutiny of big IPOs recently, disrupting a few listings and stoking concerns about a pullback in deal flow. Investors have so far been undeterred — but it’s time they start paying attention.
  • Peru-headquartered San Miguel Industrias, known as SMI Group, which produces plastic packaging across Latin America, sold a sustainability-linked bond on Monday. The trade is the latest in a long string of Latin American issuers embracing the innovative format.