Skip to content
Subscriber Only

Bond Sales Wake From Slumber as Fed Talk Jolts Emerging Markets

  • Cash-rich investors meet impatient borrowers before Fed shift
  • Issuers must service $389 billion of maturing debt next year
Indonesia Ditches Herd Immunity as Delta Pushes It Beyond Reach
Photographer: Dimas Ardian/Bloomberg
Updated on

Emerging-market bond sales are springing back to life before this week’s Federal Reserve meeting, as renewed speculation over imminent tapering prompts borrowers to raise money while it’s still cheap.

The past week shattered a summer lull for dollar- and euro-denominated debt, bringing $36 billion of issuance from governments and companies after the previous 10 weeks saw only $90 billion raised. Sales from Indonesia, Turkey, Chile, Serbia and Hungary were all met with robust investor demand. Middle Eastern borrower Arab Petroleum Investments Corp. is due to start investor calls on Monday, while Nigeria is gearing up for its first dollar-bond sale in almost three years.