THE lowest borrowing costs in four years are triggering a flurry of bond sales from junk-rated nations. South Africa said on Wednesday it plans to issue dollar bonds, while Turkey has completed a US$1.75 billion tap.
Ukraine is said to be planning a return to international capital markets for the first time since it restructured debt in 2015. Ex-Soviet republic Tajikistan, which has never sold Eurobonds, is also lining up an offering. Bahrain, the only Gulf Cooperation Council (GCC) nation with three junk ratings, has mandated banks for a sukuk issuance.
The sales will follow the busiest mid-year on record for emerging-market (EM) bond offerings, with governments and companies raising more than...