CEE Bonds

Globalworth, a Romania-headquartered real estate investment company, has secured a €200m revolving credit facility from a consortium of local and international lenders.

Three Ukrainian borrowers are set to come to market for hard currency paper, perhaps as early as this week. The deals are expected to go well, as investors generally believe there is good value in Ukrainian assets.

Poland's mBank Hipoteczny has mandated leads for a roadshow ahead of a planned sub-benchmark sized deal. It could surface in a busier than expected market in November now that some issuers will be reconsidering their funding strategies after the European Central Bank bought more than anticipated in the primary market this week.

Home Credit and Finance Bank, the Russian consumer finance bank, priced a rare additional tier one trade from the country this week.

Emerging market issuers continued to enjoy solid market conditions this week with new mandates joining the pipeline and Abu Dhabi’s Mamoura executing a $3.5bn triple tranche trade.

Naftogaz, Ukraine’s largest vertically integrated oil and gas company, is embarking on a roadshow for a dollar bond — its second outing in the international bond markets this year.

Credit Bank of Moscow is seeking to sell 2.75bn new shares through a fully marketed share sale, to fund a debt buyback to improve the composition of its regulatory capital.

PPF Arena 1, the Central European telecommunications company, has announced a roadshow this week for a benchmark euro transaction.

Emerging markets issuers enjoyed supportive market conditions this week as a variety of deals gave low new issue premiums and attracted healthy order books. But with investors talking about downing tools for the year, it is not clear how much longer helpful conditions will last.

JP Morgan changes line-up for energy and utilities, multi-nationals, UK ECM and UK M&A — UniCredit swaps out CEE investment bank head — Pigasse exits Lazard

Russian consumer finance bank Home Credit & Finance Bank has hit the road to market a rare AT1 in a deal that could be a test of emerging markets investors’ risk appetite for less vanilla deals.

Andrea Diamanti is set to become deputy CEO of UniCredit Bank Russia. Fabio Fornaroli will now lead UniCredit’s Central and Eastern Europe investment bank.