Global
Qatar’s Ooredoo to issue debt
Qatar’s telecommunications giant is looking to raise capital through debt issuances. This could prove problematic amid domestic economic prudence resulting from the commodity slump and concerns from abroad over the stability of the Middle East region.
10 Feb 2016
Mohebi Logistics issues sukuk
The Dubai government is constructing a new city, Dubai South. One company expanding in this area has followed the tradition of issuing a sukuk, albeit a rare type, to fund development.
9 Feb 2016
Zambia issues yet more treasury bills
Zambia has steep budget deficits to cover resulting from low copper prices. It has financed these locally and externally, increasing borrowing costs for the country. It is still issuing debt, but falling popularity amongst investors despite high yields has reduced the size of issuances recently.
9 Feb 2016
Does India differ from other emerging markets?
As China slows, India is emerging as the world’s fastest growing large economy. The country has the potential to attract large amounts of foreign investment, but although it is not hit by factors that affect other emerging markets directly, the country’s fiscal policies remain in line with the general trend across EMs as they struggle to revive their respective economies.
9 Feb 2016
Argentina makes further progress with holdout creditors
Argentina is slowly making its return to the international capital markets. The recently proposed deal has won over some of the country’s holdout creditors, although others remain as yet unconvinced. Despite requiring a unanimous vote, Argentina’s return could also be hampered by the country’s own congress.
9 Feb 2016
Emerging markets could lose bond lifeline
A number of central banks in developed markets have introduced negative interest rates, most recently Japan. Emerging markets are currently unpopular amongst international investors in the current economic climate, and despite offering high yields, the risks on their debt are seen as too high for many investors.
5 Feb 2016
Malaysian central bank to issue Islamic treasury bills
Since it stopped issuing long term sukuk last year to protect its domestic market, Malaysia has been looking for other avenues allowing it to boost the local market and attract foreign investment, with plans to issue Islamic treasury bills.
3 Feb 2016
Amid EM slowdown, Mexico stands out for bond investors
Emerging markets have suffered amid a Chinese economic slowdown, global commodity slump and US interest rate rises. Yields on EM bonds are rising and investors are pulling out of many markets. As an EM, Mexico is no exception. However, it is coping better than many of its EM cousins on the debt front.
3 Feb 2016
Iran is ready to develop its debt markets
After an agreement between major world powers and Iran saw the country’s nuclear sanctions lifted, the government is trying to develop its capital markets to attract foreign investment. To this end, it is first trying to develop its local market, as the global sentiment concerning debt in emerging markets remains negative.
3 Feb 2016
Turkey unlikely to issue any Eurobonds this year
Eurobond issuances from Turkey will be rare this year due to varied financing requirements combined with investor worries over how emerging markets have recently performed after a US interest rate rise. With Eurobonds now falling out of favour for both investor and issuers, Turkey will have to source new avenues of funding.
1 Feb 2016