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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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  • Believe, the French digital music company, completed its Paris IPO on Thursday morning but the shares bombed in their first hours of trading in another blow for European listings. However, sources close to the transaction were still pleased to get the deal across the line in what they saw as a boost for the French IPO market after another sizeable listing was pulled last week.
  • New bond issuance from local government financing vehicles in China has taken a beating recently, as Beijing hardens its stance on keeping the country’s ‘hidden debt’ problem under control. But the challenging times are likely just beginning, writes Addison Gong.
  • Georgian Railway and Togo-headquartered Ecobank Transnational launched a green bond and a sustainability-linked bond, respectively, on Thursday.
  • Agricultural Bank of China sold a multi-currency deal through its Hong Kong branch this week, raising $1.322bn.
  • South Korea's KEB Hana Bank found a stronger response than expected for its sustainability bond this week, allowing it to raise $600m.
  • A trio of foreign banks tapped an attractive Swiss market this week, finding opportunities to top up their well-advanced funding programmes with a bit of pricing arbitrage.