CEE Bonds
-
A pair of Eastern European corporate borrowers are in the market for dollar paper on Thursday, taking advantage of excellent market conditions to secure cheap funding. -
Armenia is the latest EM borrower to take advantage of rock bottom rates with a tender offer and new bond. The sovereign will tender a 2020 bond, financing the operation with a new Eurobond.
-
The first deal of the September rush set an impressive bar for a rush of borrowing from its peers in the commodities sector. Russia's Severstal pulled off an $800m five year bond priced flat to its curve, achieving the lowest yield ever for a corporate from the region.
-
Prima banka Slovensko is set to become the third Slovakian issuer of euro covered bonds after it mandated lead managers on Monday for a roadshow.
-
Fitch Ratings raised Ukraine’s credit rating from B- to B with a positive outlook. However, Bank of America Merrill Lynch believes that the country is still at risk of another debt restructuring.
-
Severstal, a Russian steel manufacturer, hit screens on Monday morning with a five year dollar benchmark.
-
The price of Ukraine’s GDP warrants climbed rapidly this week on news of a “definite plan” to minimise the instruments’ impact on the country’s debt burden.
-
Two Russian steel companies have announced mandates and roadshows this week and look set to become the first corporates from the country to test the bond market since the latest round of US sanctions on their country in early August.
-
The price of Ukraine’s GDP warrants climbed rapidly this week on news of a “definite plan” to minimise the instruments’ impact on the country’s debt burden.
-
Russian pipe manufacturer Chelyabinsk Pipe Plant has become the second metals company from the country to announce plans for a roadshow this week, joining Severstal. The Chelpipe deal — a $300m Reg S/144A five year senior unsecured note — will be the company's debut in the Eurobond market.
-
Two CEEMEA issuers — one of which is a Russian corporate — have mandated for bonds and are heading off on roadshows, ending a barren summer for the asset class.
-
Standard & Poor's has affirmed Romania's investment grade rating, at BBB- with a stable outlook. The central European sovereign escaped a downgrade to junk status, but bond auctions this week will determine appetite for the credit.
