Record Pace of Emerging-Market Bond Sales as Fed Hikes Loom
- Year-to-date developing-nation bond sales above $100 billion
- Kuwait, Nigeria, Lebanon are readying new bond issuance
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Emerging-market borrowers are selling bonds at an unprecedented pace before the Federal Reserve raises interest rates.
Kuwait picked banks on Wednesday for a deal said to be targeting as much as $9.5 billion. Oman also launched a sale and more transactions are due from countries including Lebanon and Nigeria. Emerging-market issuance in dollars and euros this year has already exceeded $100 billion, Bloomberg data show. That’s the fastest pace ever and almost 20 percent more than the previous record for the period in 2014.