CEE Bonds
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If Romania can tackle its deficit then government and state-owned issuer borrowing costs will fall
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Deal is first in format from an EM sovereign since 2023
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Hungary could raise close to €600m
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The reaction was so benign that a small bank printed an AT1 this week
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BBVA and ENBD learnt of change when IPTs were put out
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The sovereign also issued one of the longest date deals from a CEEMEA sovereign this year
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Two rating agencies upgraded Bulgaria last week ahead of likely eurozone accession
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The real estate company will use some of the funds for a tender offer of its bonds due in 2029
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Prices have recovered from spring sell-off
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Pricing did not move from initial pricing until mid-afternoon, despite huge book
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New issue premiums were slim on the dollar bonds and euro tap, despite the huge combined size
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Complex political backdrop hinders development in the country, says S&P