Pakistan

Country Garden seeks second borrowing in six months – UAF taps two banks for HK$1.6bn – Deutsche arranges $190m for Shangshi – Pakistan sovereign deal open – Malakoff woos banks to refi – IRFC pulls into Samurai market

The Islamic Republic of Pakistan’s sovereign bonds were among the best performers in high yield Asian debt in dollars last week, as the country neared an agreement with the International Monetary Fund (IMF) for a bailout.

Pakistan’s Hub Power Co (Hubco) has launched a rights issue to fund an increase of its stake in the local subsidiary of a Chinese state-owned power company.

Pakistan walks a fine line between emerging market and frontier. It is clinging on to its hard won status, reports Morgan Davis

Panda bonds could take a back seat in the first quarter of 2019 due to the expected increase in issuance of local government bonds and as banks focus on their own funding needs, according to onshore DCM bankers.

Interloop, a Pakistan-based sock supplier for sports brands Nike and Adidas, intends to list on the domestic stock exchange, in what would be the country’s largest listing from a private sector company.

The Islamic Republic of Pakistan’s outstanding dollar bonds received a boost on Tuesday after the country turned to the IMF for assistance. Addison Gong reports.

Goldman hires from IMF — UBS adds to debt origination — Bank Alfalah, CLSA ink pact for Pakistan — Credit Suisse taps Japan CEO — PNB scoops up former HSBC banker

Pakistan is making a quick comeback to the loan market, seeking $200m, amid a mounting debt crisis in the country. But economists and bankers said numerous funding avenues are available for the sovereign to manage its $12bn of outstanding debt.

Asia’s syndicated loan market is offering razor-sharp funding to sovereign borrowers, and that is not just limited to the more developed countries in the market. Pakistan and Sri Lanka are returning to the market with $1.45bn of loans between them, and both look set to cut their pricing significantly. Pan Yue reports.

An overnight bookbuild in Oil & Gas Development Co this week reopened the market for Pakistan equity deals, as investors clamoured for shares in the Prp5.7bn ($49.7m) offering.

China plans to turn Hainan into its latest trade laboratory, the International Monetary Fund (IMF) warns countries joining the Belt and Road Initiative against accumulating excessive debt, and the securities watchdog says it will allow international participants to trade onshore iron ore futures by early May.