CEE Bonds
-
Emerging market bond bankers were keeping their pipelines dry on Monday as fears about the new coronavirus stymied new issuance. But mandates still appeared, as Vodafone Ukraine signalled a roadshow for dollar bonds. -
The risk that huge amounts of oil and gas assets will be stranded by moves to tackle the climate emergency may be more pertinent for sovereign credit than for private sector corporate debt, according to new research.
-
Romania sold €1.4bn 2% 2032s and €1.6bn 3.375% 2050s on Tuesday, managing to get away half of the country’s €6bn funding target for 2020 in one swoop.
-
Ukraine printed its €1.25bn 10 year bond on Wednesday so far inside its own curve that its outstanding euro bonds moved 20bp tighter and its dollar bonds 10bp-15bp tighter. The deal drew a €7bn book.
-
Credit Bank of Moscow sold its $600m five year bond “flat to the curve” on Wednesday, according to a syndicate official on the deal.
-
Ukraine set price guidance on a 10 year euro bond on Wednesday morning and books for the deal had grown to over €4.5bn by lunchtime.
-
Three CEE banks have announced new bond issues this week. Armenia's Ardshinbank has printed a $300m five year bond, Credit Bank of Moscow has initial price guidance out on a dollar five year benchmark and Sovcombank, another Russian bank, has released plans for a roadshow.
-
Two CEEMEA sovereigns are taking the plunge this week — the Kingdom of Saudi Arabia with a triple tranche dollar benchmark and Romania with a dual tranche euro bond.
-
Southern Eastern European telecoms group United Group, a BC Partners and KKR portfolio company, is preparing an all-bond financing package for its takeover of Bulgaria’s Vivacom, marketing new senior secured bonds and an add-on to its existing 2025 PIK notes.
-
-
-
