Triumph for EM debt in Sberbank success
The CEEMEA bond market continues to churn out new bonds, despite the volatility from the Italian election. Sberbank succeeded in printing its TL550m 7.4% 2018s — a triumph for EM debt as investors willingly took on non-correlated EM currency and credit risk together, though they have struggled a little in the secondary market, and Abu Dhabi Commercial Bank has printed the first simultaneous senior and subordinated deal from the CEEMEA region since 2009.
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