Top emerging-market companies’ dollar debt maturities in coming year

Investors sit in front of a board showing stock information at a brokerage house on the first day of trade in China since the Lunar New Year, in Hangzhou
FILE PHOTO: Investors sit in front of a board showing stock information at a brokerage house on the first day of trade in China since the Lunar New Year, in Hangzhou, Zhejiang province, China February 3, 2020. China Daily via REUTERS

November 13, 2020

(Reuters) – Emerging-market non-financial companies have about $88.5 billion worth of dollar bonds maturing by the end of 2021, data from Refinitiv Eikon showed.

The COVID-19 pandemic has severely affected emerging-market corporate profits this year. That could make it hard for some of them to service debt maturing next year.

China’s real estate firms lead the pack, with higher amounts of dollar debt maturing in 2021.

Property developer China Evergrande Group <3333.HK> has about $2.8 billion worth of dollar bonds maturing in 2021. Sunac China Holding <1918.HK> has $1.3 billion.

Korea Gas Corp <036460.KS> has $500 million worth of dollar bonds maturing next year and Posco <005490.KS> has $700 million.

Emerging-market companies have borrowed $161 billion worth of dollar bonds in the first 10 months of this year, the highest in at least 10 years, helped by lower U.S. interest rates.

(GRAPHIC – Top EM dollar debt maturities in coming year: https://fingfx.thomsonreuters.com/gfx/mkt/qzjvqojrgvx/Top%20EM%20companies%20with%20higher%20dollar%20debt%20maturing%20in%20next%2012%20months.jpg)

(Reporting by Gaurav Dogra and Patturaja Murugaboopathy in Bengaluru; Editing by Vidya Ranganathan)