JPMB - Capital Markets Weekly: Emerging Market Issuers Continue Pushing Debt Maturity Threshold
Among this week's highlights indicating emerging market focus on accessing long-term debt are a 30-year issue for the Emirate of Sharjah and plans by Brazilian petrochemical company Braskem (BAK) to raise hybrid debt, following recent perpetual sales by Emirates NBD, Banorte (GBOOF) and DP World (DPWRF): the only long-dated emerging market issue which appears to have faced some investor resistance was the recent USD1 billion 9.5% 2052 issue for El Salvador, but this is unsurprising given its past debt history including Selective Default events in 2017, making its ability to access USD1 billion of long-dated