CEE Bonds
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Takeover will increase the Hungarian bank's total assets by around 13% -
Issuer has the country's longest tier two curve
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The sovereign has finished international funding for 2026
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Private placements are not unknown for CEE sovereigns, but this is the biggest for years
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Market participants have highlighted drop in Uzbek bond volumes this year
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Uzbek issuance has fallen to near zero after a busy few years
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Bookbuilding slower than normal due to the restart of war between the US and Iran
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The sovereign deal came the day after Hungary's tight dual trancher
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Book attrition rates rise and coverage ratios decline
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Sovereign curve has rallied since Orban left after 16 years in power, but Hungary is in a fiscal hole
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Demand hefty, despite being Pekao's second tier two in less than a year
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Investors in CEE corporate debt find Orlen a 'preferred asset'
