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Emerging market bond sales are coming back to life ahead of this week’s Federal Reserve meeting, as renewed speculation about the impending cut prompts borrowers to raise funds while they are still cheap.
Last week shattered a summer lull in dollar and euro denominated debt, bringing in $ 36 billion in government and corporate issuance after the previous 10 weeks had seen just $ 90 billion raised. Sales from Indonesia, Turkey, Chile, Serbia and Hungary were all met by strong investor demand. Middle Eastern borrower Arab Petroleum Investments Corp. is due to issue investor appeals on Monday, while Nigeria is gearing up for its first dollar bond sale in almost three years.
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