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Emerging Markets

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Driving pricing lower was the small size and the green label
New issue premiums average a little more this year than in 2025
◆ Europe's corporate bond market braces for US tech issuance surge ◆ Canada makes move for EU regs equivalence but to what end? ◆ Middle East private placements here to stay... but will take up less room

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  • China is allowing banks to issue perpetual bonds with an equity conversion provision, an attempt to balance the need to help smaller lenders shore up their capital with a desire to protect investors. Addison Gong reports.
  • Red chip issuer Yuexiu Transport Infrastructure ditched its usual bullet bond structure in favour of a five year puttable Panda outing this week.
  • Hong Kong’s government returned to the green bond market with a $2.5bn triple-tranche deal this week, making the most of growing investor demand for sustainable investment opportunities. Morgan Davis reports.
  • Tencent Holdings is testing bank appetite for a jumbo loan of $6bn as it gets ready to once again shun syndication in favour of a club deal. But the razor-thin pricing on offer is likely to pose a challenge — as will a recent crackdown on some of China’s largest technology companies. Pan Yue reports.
  • Casino operator Genting New York priced a $525m bond on Wednesday.
  • The Lao People's Democratic Republic has postponed its dollar bond sale for the second time in as many months, this time to provide investors with more information.