Bulgaria
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The sovereign also issued one of the longest date deals from a CEEMEA sovereign this year -
Two rating agencies upgraded Bulgaria last week ahead of likely eurozone accession
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BEH offers rare chance to buy non-sovereign Bulgarian debt
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BEH will add to a busy period for state-owned issuance in CEEMEA
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New issue premium is in line with pre-tariff euro sovereign deals in CEE
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Lower demand for a longer tranche was a reflection of market conditions, said one banker
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Orders for dollar tranche were more than $4bn, euro orders even higher
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Other CEE sovereigns have secured arbitrage by printing in dollars
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The sovereign used a prospectus exemption regime for the first time
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CEEMEA borrowers have flooded back to the primary mart after a rally in US Treasury yields
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More CEE sovereigns are expected to issue new bonds
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Bankers see CEE new issues being put on hold
