Posted 11/12/2023, 1:00:00 PM
Emerging Markets Rush to Issue $20 Billion in Dollar Bonds as Yields Drop
- Emerging-market borrowers sell about $20 billion in dollar bonds in a few days, taking advantage of lower borrowing costs
- Countries like Colombia, Indonesia, and companies like Grupo Energia Bogota rush to lock in lower rates
- Over 30 borrowers jump at the opportunity as U.S. Treasury yields drop from 16-year high
- Colombia and Turkey sell $2.5 billion each in dollar debt, making it the biggest issuance week this year
- Improved market mood allows more issuers to come to market, with more deals still in the pipeline