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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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  • Brazilian government-owned oil and gas giant Petrobras took advantage of a buoyant market on Wednesday to clean up the long end of its curve, shrugging off political concerns with a new 30 year bond that came well inside fair value and left no doubt about the quality of funding conditions for Latin American issuers.
  • Angelalign Technology, a Chinese dental care company, hit the market on Thursday with an IPO of up to HK$2.91bn ($375.3m).
  • South Korea's Shinhan Card has sold a $300m social bond in the Taiwanese market, finding strong interest from investors keen to support deals in this growing asset class.
  • Brazilian oil and gas company PetroRio accessed bond markets on Wednesday just eight months after it pulled an earlier deal, with observers crediting the company’s success to an improved credit profile, enhanced note structure, higher oil prices and better bond market conditions.
  • E-House (China) Enterprise Holdings tapped its 7.6% 2023 bonds for an additional $100m on Wednesday, bringing the total deal size to $300m.
  • Senegal entered the bond market on Wednesday with a euro offering, as a string of African sovereign issuers are expected to raise cash from international investors in the coming weeks.