denotes premium content | Jan 6 2009 
Regular
posted 21 Jun 2005 in Volume 8 Issue 8
Country risk appetite
The analysis from Standard Bank Plc:
There seems to be a relentless squeeze on the entire emerging market asset sector. Strong enquiries have been seen virtually across the board, with the main exception in Asia.
Latin American borrowers are now being seen on a regular basis with particular emphasis on Argentina, Brazil, Colombia and Mexico, with tenors of between three and five years being eagerly supported in the market.
In the CIS/FSU and Eastern Europe, the market continues to see strong demand from Russian, Kazakhstani and lately, Romanian borrowers. Longer tenors are being seen in all three markets as investors push for yields.
Turkish borrowers are now being widely seen, again with some starting to push the tenors out on the syndicated loans. Pricing levels are near historic lows.
Pricing for Iranian paper has been erratic in the run up to the elections. It remains to be seen where levels will be post election.
We are beginning to see further enquiries in both Pakistan and Bangladesh – medium-term – for which there appears to be ready investor appetite.
For a PDF of the tenors, click here
