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Emerging Markets

Saudi lands $3bn export financing agreement with Korea

Middle East

Saudi lands $3bn export financing agreement with Korea

Saudi Arabia has secured an export financing agreement with Korea’s export credit agency and trade insurance corporation.

15 Jan 2021

CEE

SURE programme poses questions for CEE DMOs

After a record breaking year for sovereign bond issuance in central and eastern Europe, 2021 could be a different story, thanks to the European Union's vast economic support packages that could reduce the need for many CEE countries to tap international bond markets.

14 Jan 2021
Latin America

Colombia wraps LM to get ahead of uncertainty

Colombia’s public credit head told GlobalCapital that the sovereign had wanted to move quickly to get ahead of potential volatility as it printed $2.84bn of new bonds this week as part of a liability management operation.

15 Jan 2021
Latin America

Lat Am storms back with Thursday quartet

Four heavily oversubscribed Latin American new issues fetched tight pricing on Thursday, dispelling the unease felt at the week’s start and putting the region firmly on track to fulfil the predictions of record primary volumes for a January.

14 Jan 2021
Middle East

High yield issuers take front stage though CEEMEA ‘underwhelming’

Junk-rated emerging market sovereigns Benin and Oman sold bonds this week, with market participants saying their new issue premiums were minimal.

14 Jan 2021
CEE

Yapi Kredi to squeeze pricing on tier two dollar deal

Turkish bank Yapi Kredi launched a tier two dollar bond on Thursday, with demand strong enough for bookrunners to attempt to squeeze pricing.

14 Jan 2021
Investment Grade

Energean takes $700m loan to get Karish gas pumping

Energean, the London-listed oil and gas company, has signed a $700m loan to develop a gas field off the shore of Israel, as the company enters the final stretch in having the field up and running.

14 Jan 2021
Latin America

Mexico lines up euro LM

Just over a week after it reopened EM bond markets with a dollar deal, Mexico is turning to euros for a dual tranche new issue as part of a liability management exercise.

14 Jan 2021
Latin America

Dominican Republic prices inside guidance to keep Lat Am on track

The Dominican Republic raised $2.5bn across two tranches amid an improving tone in EM bond markets on Wednesday, providing an encouraging sign to the several Latin American credits expected to price before the week is over.

14 Jan 2021
CEE

Wizz Air flies off with debut euro bond

Wizz Air proved on Wednesday that markets are open for even those debut emerging market issuers in affected sectors.

13 Jan 2021
CEE

EM FIG trio storm into market seeking dollars and euros

Turkey’s Yapi Kredi, Russia’s Credit Bank of Moscow and Banque Ouest Africaine de Banque Ouest Africaine de Développement have all approached investors this week to sound out interest in hard currency bonds.

13 Jan 2021

Go to GlobalCapital's Emerging Markets data pages for the latest information on priced deals, league tables and our proprietary database of Islamic Finance deals.

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Comment

Rating agency treatment of EM risk at odds with the people who take it

Credit rating agencies are attracting harsh criticism over their treatment of emerging market sovereigns. Some in the bond markets believe it threatens to undermine their authority when it comes to assessing creditworthiness.

12 Jan 2021

Bond Comments

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People & Markets

Créd Ag's Loynes goes global

Damien Loynes' syndicate responsibilities at Crédit Agricole have been expanded.

06 Jan 2021
World Bank says rich world can cut poor states’ debt without contagion

Governments and “wealthy” private creditors in advanced and emerging economies can reduce the bilateral debts owed by the world’s poorest countries without triggering an outbreak of financial contagion, David Malpass has said.

17 Dec 2020

CEE

Big deal: Huuuge hopes to make splash with Warsaw IPO

Huuuge, the Polish social and mobile gambling company, revealed on Monday that it is seeking to list on the Warsaw stock exchange. The deal will be the latest in a long line of digitally focused companies to announce IPO plans.

18 Jan 2021
High yield issuers take front stage though CEEMEA ‘underwhelming’
Wizz Air EUR500m 1.35% Jan 24
SURE programme poses questions for CEE DMOs
Yapi Kredi to squeeze pricing on tier two dollar deal

Middle East

Saudi’s biggest bank mandates, market awaits sov

Saudi Arabia’s National Commercial Bank (NCB), the largest financial institution in the kingdom, has mandated banks to arrange a tier one dollar sukuk. The deal may act as a prelude to a potential bond sale by the sovereign, which bankers say could happen as early as this week.

18 Jan 2021
Saudi lands $3bn export financing agreement with Korea
High yield issuers take front stage though CEEMEA ‘underwhelming’
Dubai Aerospace Enterprise USD500m 2.625% March 25 USD750m 3.375% March 28
Energean takes $700m loan to get Karish gas pumping

Islamic Finance

Flurry of Uzbek corps set to debut, diversification on horizon

Diversification has taken hold in central Asia's Uzbekistan, which over the last two years has started its pivot towards international capital markets. According to sources, a plethora of debut deals is expected to hit markets in coming months.

07 Jan 2021
Egypt steams on with diversification as sukuk debut approaches
EM bond issuers squeeze into swift closing issuance window
Pakistan calls for banks for new bond programme
Sukuk issuance shrinks despite market efforts to diversify into sustainability

Africa

High yield issuers take front stage though CEEMEA ‘underwhelming’

Junk-rated emerging market sovereigns Benin and Oman sold bonds this week, with market participants saying their new issue premiums were minimal. However, bankers think total activity across CEEMEA over the last two weeks has been “underwhelming”.

14 Jan 2021
Benin EUR700m 4.875% Jan 30 EUR300m 6.875% Jan 52
EM FIG trio storm into market seeking dollars and euros
Room for high yield EM credits 'no issue' as Oman returns for dollars
Rating agency treatment of EM risk at odds with the people who take it

Latin America

Banrisul to follow Itaú with tier two

Banco do Estado do Rio Grande do Sul (Banrisul), the 10th largest bank in Brazil, is approaching international bond investors for the first time since 2012 as it looks to return to markets with a tier two bond issuer.

18 Jan 2021
Colombia wraps LM to get ahead of uncertainty
Lat Am storms back with Thursday quartet
Colombia to stay local for green debut, plots govvie ETF, social bond
Mexico lines up euro LM

Asia

Bryson hire reveals SMBC Nikko's capital markets ambitions

SMBC Nikko wants to grow its capital markets and advisory business in EMEA, which is smaller than its parent’s heft in the loan market. It has hired Anthony Bryson, a former NatWest Markets and BNP Paribas banker, to lead the push.

18 Jan 2021
HK IPO market gathers steam with Kuaishou leading the way
Chinese borrowers keep up bond flow
China Fortune Land bonds plummet on rating hit
E-cigarette maker RLX Tech covers $1.2bn IPO