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Emerging Markets

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  • Singapore’s stock exchange has launched a consultation about proposed rules on special purpose acquisition companies.
  • Chengdu Jiaozi Financial Holding Group Co priced an ultra-tight $200m bond on Wednesday, turning to a group of largely Chinese banks for a club-style transaction.
  • China-based Fortune Auto Finance Co will launch a Rmb2.5bn ($381.5m) auto loan ABS transaction next week, the company’s first deal with an international rating. Meanwhile, Dongfeng Nissan Auto Finance Co is returning to the onshore market with a larger Rmb4.4bn trade.
  • ReNew Power, a regular issuer from India's renewable energy sector, raised $585m this week from another green bond – and another complex structure.
  • Chinese property developer Logan Group Co has returned to the dollar bond for the second time this year. It was forced to navigate a much more difficult market this time – and ended up paying around 20bp over fair value.
  • IDFC First Bank raised Rp30bn ($409m) this week from a larger than expected sale of primary shares.