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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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Mastellone Hermanos, the largest dairy company in Argentina, has fallen short of getting the bondholder support it needs for its proposed distressed exchange offer. The borrower, which is dealing with the fallout from capital controls in its home country, needs the support of another 1.47% of its bondholders to proceed with the offer. -
Light, the fifth largest energy distributor in Brazil, issued $600m of five year bonds on Tuesday to wrap up a hectic period of LatAm high yield issuance. But the primary market is likely to take at least a one day pause as recent issues trade softly and the US Federal Open Market Committee (FOMC) concludes a two day meeting on Wednesday.
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Brazilian meatpacker JBS made an apparently impressive entry into the world of ESG debt last week with a well received sustainability-linked bond (SLB). While an SLB is an encouraging first step for a company that has for years been under the scrutiny of environmental campaigners, the KPIs in the deal cover a fraction of the company’s emissions, and the deal shows investors need be tougher on SLB issuers if the format is to have value.
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Turkey's Akbank launched a dollar sustainable bond on Tuesday, just months after it raised its first ESG-linked syndicated loan.
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The Republic of Kenya will return to international bond markets this week after a two year hiatus. The mandate added to the growing pipeline of sub-Saharan African sovereign trades.
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Turkey launched a June 2026 dollar sukuk on Tuesday, which some market participants believe is set to come "cheap" as the sovereign looks to extend its curve in the asset class.
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Sponsored by CAF – Development Bank of Latin America and the Caribbean
CAF gearing up to transform regional development
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Sponsored by Emirates NBD Capital
Emirates NBD Capital: An unrivalled conduit for Middle East liquidity
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Sponsored by European Investment Bank
European Investment Bank: Supporting sustainable development in North Africa
