Opportunistic EM borrowers eye market beyond Brexit

Emerging markets1_230
By Virginia Furness
22 Jun 2016

Emerging market bond bankers are already looking beyond Brexit as super-tight spreads in central and eastern Europe, caused by a Remain-led rally, make issuance levels look attractive.

Many bonds have tightened 50bp in the last week, according to credit traders. Poland’s dollar 2026 bonds are at a cash price of 101.5, from 100.7 on June 15. Turkey’s 2026s have risen from 101.43 to at 103.97 over the same period and Hungary’s 2024s from 110.98 to ...

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