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Emerging Markets

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The trade is the first from a 'mid-tier' Uzbek lender
The dollar market is offering cheaper funding at the shorter end
Victoria Power Network makes first appearance in the currency

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  • A leading shareholder in WuXi Biologics (Cayman) has pocketed HK$10.3bn ($1.3bn) after offloading a chunk of the company’s shares.
  • The Vietnam consumer finance subsidiary of Korea’s Mirae Asset Financial Group has become the latest firm to join a flurry of Vietnamese financial institutions in the loan market.
  • CMB International has hired Branson Song, a veteran equity capital markets banker, as head of its ECM business.
  • Mining firm Compañía de Minas Buenaventura sent a strong message about Peruvian companies’ access to capital markets on Tuesday, pricing its debut bond issue through guidance the day after Pedro Castillo — a leftist teacher who has pledged to hike taxes on miners and redraft the country’s constitution — was confirmed as Peru’s next president.
  • SMI Group, which makes plastic packaging in nine Latin American countries, began investor calls on Tuesday ahead of a proposed sustainability-linked bond.
  • Mexican state-owned utility Comisión Federal de Electricidad (CFE) sold $850m of 12 year bonds on Tuesday on its second visit to international markets this year.