When the US-China trade dispute escalated once again at the beginning of last week, IFR called a DCM contact to ask whether a deal from EM issuer NEPI Rockcastle would be going ahead. The forthright response was along the lines of "Are you joking? Did you see the market? A complete bloodbath." And yet, the deal was priced a day later. In fact, the NEPI deal was one of five bond transactions from Central and Eastern Europe, the Middle East and Africa that was executed last week, a testament to the region's resilience and the variety of issuers and structures it can offer.
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