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Emerging Markets

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◆ Oil trumps politics ◆ Kuwait scores late winner ◆ How to save Thames Water harmlessly
Placement 3.7 times subscribed, weeks after regulator halted unauthorised marketing of a purported public offer
Cracks emerge in underlying quality as banks appear to teeter further into cautiousness

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  • Mexican car parts maker Nemak is looking to become the latest Latin American company to issue a sustainability-linked bond, having begun investor meetings on Monday. Like other LatAm SLB issuers from the sector, Nemak is including a coupon step-up linked to Scope 1 and 2 greenhouse gas emissions — though the company has a separate target to reduce its far more significant Scope 3 emissions.
  • CEE
    Gazprom is set to access the Swiss franc market this week to sell its first trade in the currency for over three years.
  • HSBC Asset Management has hired an emerging markets debt portfolio manager from APG Asset Management.
  • Citi has promoted a number of its CEEMEA debt financing team, across both bonds and loans.
  • CEE
    The Republic of Slovenia revealed the mandate for its debut sustainability bond on Monday, just months after it impressed market participants with a 60 year bond.
  • Yahsat, the satellite company owned by Mubadala, will attempt a listing on the Abu Dhabi Securities Market (ADX). The company is seeking to list at a time when the European IPO market is difficult, but there is hope that strong local interest and emerging market equity investors will see the deal across the line.