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◆ Outsiders open EM investors’ wallets ◆ European banks let their hair down in dollar market, still shy in euros ◆ Digital innovation in Frankfurt with DZ Bank
Issuer ends five year primary market hiatus with five year deal
Higher prices and concessions mean many issuers will wait for better days
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Covid-19 has made combining market-friendly economic policy with retaining popular support even trickier than usual for Latin America's politicians. In turn, it has become harder for bondholders to read the political tea leaves when weighing up where their money is best parked. For instance, investors who once loved Jair Bolsonaro's Brazil are now high-tailing it to other markets, including El Salvador, where another populist has just won power. In a busy year for LatAm elections, and with the pandemic still raging, allocating capital in the region's bond markets will be trickier than usual. -
Turkish lender Akbank is in the syndicated loan market with its debut ESG deal, according to sources. The bank has been able to tighten pricing on the refinancing, meaning that it has enough competitively priced funding for it not to need to come to the bond market.
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Rosatom, the Russian nuclear power company, is using a $300m sustainability-linked loan for part of the financing of Akkuyu, the first nuclear power plant to be built in Turkey — a sign of how fast and far the concept of sustainability-linked finance is spreading.
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China’s YishengBio is planning to list in Hong Kong, having filed an IPO application with the bourse on Monday.
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Indian Railway Finance Corp postponed its dual-tranche dollar bond offering on Monday when faced with a volatile market backdrop that ‘bamboozled’ the banks running the deal.
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South Korea’s flag carrier Korean Air has topped up its coffers with W2.5tr ($2.19bn) in fresh equity after sealing a jumbo rights issue.
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Sponsored by CAF – Development Bank of Latin America and the Caribbean
CAF gearing up to transform regional development
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Sponsored by Emirates NBD Capital
Emirates NBD Capital: An unrivalled conduit for Middle East liquidity
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Sponsored by European Investment Bank
European Investment Bank: Supporting sustainable development in North Africa
