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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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  • Korea Investment & Securities marketed a three year and a five year bond on Monday, raising a combined $600m.
  • Private equity firm Blackstone is raising $1.1bn to support its purchase of a stake in Indian IT company Mphasis. The deal is set to be the largest leveraged buyout loan in the country — and comes with a group of 13 bookrunners at the top. Pan Yue reports.
  • Fibra Soma, a recently created Mexican real estate investment trust (Reit), began meeting fixed income investors on Monday ahead of what would be an inaugural international bond deal.
  • Compañía de Minas Buenaventura will provide a stern test of appetite for Peruvian risk under new leftist president Pedro Castillo this week as it seeks an inaugural bond issue that it will use to repay a tax liability.
  • Uzbekistan re-entered the international bond markets on Monday for its third ever issue. The dual currency bond it was marketing aimed at drawing in the widest possible investor base, market participants said
  • SRI
    Arguably the most important sustainable finance innovation since the development of green bonds, sustainability-linked bonds have picked up notable traction in the year since the launch of the Sustainability-Linked Bond Principles. But while the instrument provides the holistic issuer-level engagement that many investors are seeking, in contrast to use of proceeds bonds, questions remain over both the credibility of KPIs and applicability to financial and sovereign credits.