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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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  • Rating: Ba3/B+/—
  • Russian gold miner Nord Gold said on Thursday that it wants to launch an IPO on the London Stock Exchange, following a rally in the price of gold since March.
  • The Republic of Senegal raised €775m on Wednesday in a deal that achieved a negative new issue premium of 25bp, according to bookrunners. Investors’ appetite for high yielding emerging market credit remains robust despite lingering concerns over developed market inflation and central bank tapering.
  • Over the last year or so, my furry companion has become my co-worker, supervisor and live-in best friend. But he still doesn't have security clearance.
  • Institutional and retail investors were in hot pursuit of China’s first nine infrastructure real estate investment trust (Reits) this week, as Beijing begins to develop the trillion-renminbi market.
  • Indofood CBP Sukses Makmur made its dollar debut this week with a dual tranche $1.75bn bond. The Indonesian noodle maker overcame investor scepticism about its fundraising strategy by selling long-dated notes that saw a strong reception from the market. Morgan Davis reports.