The trailblazing issuance by the state government could open doors to China’s onshore market to other Middle East issuers as part of the “Bond Connect” initiative.
Corporate borrowing in India is set to get a lot more challenging as investors search for higher coupons and banks tighten up their lending practices following a build-up of non-performing loans, according to analysts. It is unclear whether even the country’s largest corporates are immune to the sandwiching of rising interest rates and a banking sector in flux.
It has been a tough start to the year for emerging market bonds, but things are looking up as we head into 2H 2018 – you just need to know where to look.
US President Donald Trump unilaterally started the trade war with China and he shows no signs of letting up. His policies on trade mark a major departure from America’s long-standing commitment to free markets. The combination of protectionist measures and fiscal profligacy is likely to further increase the challenges faced by American companies in their quest to compete internationally by pushing up the real effective exchange rate.
Malaysia is currently in the midst of significant political change, and the country’s borrowers seem optimistic about the renewed urgency around fiscal reform. We speak with Andy Leong Chain Hong, CFO of SkyWorld Development Group, a leading property developer in Malaysia, about the direction of the economy following the country’s landmark elections, and discuss the company’s pioneering Musharakah sukuk.
With demand for sukuk rising steadily in recent years, Bonds & Loans speaks with Dato’ Mohamed Rafique Merican, Group Head and Islamic Banking CEO at Maybank Islamic Berhad, about the risks and opportunities in the market, green sukuk, and the growing involvement of Asian investors in MENA debt markets.
Indonesia navigated a challenging and volatile market to place a USD3bn dual-tranche green sukuk, which will go towards supporting the country’s efforts to combat climate change.
Notwithstanding the impending FOMC meeting and other headwinds, India’s YES Bank powered ahead with the largest debut issuance by an Indian FI that also became first to be listed on the recently established INX.
Brown Brothers Harriman: produced the following ratings model to assess relative sovereign risk in Frontier Markets. A country’s score directly reflects its creditworthiness and underlying ability to service its external debt obligations.
- Standardisation and Harmonisation Will Propel the Sukuk Market Forward
- The Spectre of Communism Haunts Vietnam’s Credit Market Despite Solid Growth
- CASE STUDY: YES Bank Double Dips with USD400mn Dual Currency Syndication
- China’s Funding Options for Belt & Road: Will Emerging Markets Make Hay or Get Shut Out?
- A China Resurgence is Good News for Metals
18 Oct 2018