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Emerging Markets

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◆ The threat of US corporate issuance to European borrowers ◆ The new funding environment for Middle East banks ◆ Reviving UK equity capital markets
Swiss investors retain appetite for credit as yields become more attractive
As war drags on, banks are boosting hoards of cash after deposit outflows

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  • CEE
    Alfa Bank, Russia’s largest privately owned bank by assets, loan portfolio and equity, this week sold a Euroclearable bond in roubles.
  • Oi, the Brazilian telecom company, re-entered international debt markets this week to raise almost $1bn of short-dated paper.
  • Chia Tai Animal Husbandry Investment (Beijing) Co, an onshore China entity of Thailand’s Charoen Pokphand Group, is borrowing its first offshore loan directly.
  • China Everbright Greentech has priced a Rmb1bn ($154m) Panda bond, attaching a ‘carbon neutrality’ label to its return to the onshore market.
  • 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.