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Emerging Markets

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  • Three real estate developers from Greater China raised additional funding from the dollar bond market through opportunistic trades on Tuesday, taking some comfort from the Chinese central bank’s recent move to boost renminbi liquidity.
  • State-owned Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) is in the market for a $790m loan, its largest offshore facility yet.
  • Interchile, the Chilean electricity transmission company owned by Colombian government-controlled conglomerate ISA, began investor calls on Tuesday ahead of a potential green bond issue.
  • LatAm bond buyers said that MC Brazil Downstream Trading’s debut bond issue on Tuesday had offered a rare chance to pick up yield in large size, as the company’s $1.8bn 10 year was spotted a point and a half higher in the grey market after pricing.
  • Arabian Centres, the Saudi Arabia shopping centre operator, is set to tap its dollar sukuk. The recent drop in US rates, combined with the anticipation of rising rates later in the year, has provided impetus for emerging market issuers to enter markets.
  • The Republic of Benin plans to be the first sub-Saharan African sovereign to tap the international bond market twice in 2021. The sovereign this week intends to sell a bond with a sustainability feature, making it one of the first in the region.