CEEMEA swallows $9bn as sovereigns wake from slumber
Russia and South Africa have given their sovereign peers a superb demonstration of the deal sizes on offer in the CEEMEA market. The Russian Federation launched a long awaited multi-tranche bond taking $6.96bn across euros and dollars, while South Africa printed a well oversubscribed $2bn deal. Bankers hope the two transactions will encourage the long line of countries considering deals to follow, but both deals also made clear the need for big new issue concessions.
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