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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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  • The liquidity crisis at Chinese real estate issuer Sichuan Languang Development Co went up a notch this week, after it failed to repay Rmb900m ($139m) of domestic bonds.
  • Minor International Public Co, a Thai hotel operator, closed a $300m transaction on Monday as part of a liability management exercise.
  • 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.