CEE Bonds
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Shares in Petropavlovsk, the London-listed Russian gold miner, rose 7.4% on Thursday after the company issued a new $125m convertible bond to refinance and older note due in 2020. -
The Russian Federation is to increase its its 2029 and 2035 dollar bonds as the risk of further US sanctions against the country recedes and the prospect of lower of US interest rates has increased demand for the debt.
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The Republic of Serbia’s first international bond for six years took advantage of a wave of bond buying, after European Central Bank President Mario Draghi’s comments earlier this week signalled a growing chance of eurozone rate cuts.
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The Republic of Serbia’s first international bond in six years — a euro 10 year deal — has drawn a healthy book of over €4.5bn.
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VTB Capital has changed the date of its Russia Calling! conference, highlighting “mounting pressure from clients’ in-laws” as the reason for moving the event so that it doesn't clash with Thanksgiving in the US.
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The Black Sea Trade and Development Bank (BSTDB) has said it is focusing on selling a three year bond this week.
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Moody’s took the axe to Turkey’s credit rating after market close on Friday, cutting the sovereign’s rating from Ba3 to B1 in a move that has raised hackles from some international investors.
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Ukraine set the terms on its €1bn seven year bond on Thursday afternoon, taking advantage of a huge bid for CEE euro sovereign deals this week and a rally in the country’s own debt since president Volodymyr Zelensky was elected at the end of April.
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A bevy of names from central and east Europe issued bonds this week and more are lining up amid a dramatic mood shift among investors.
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Všeobecná úverová banka (VUB) has issued the first ever 10 year covered bond from Slovakia, thanks in large part to the high spread that ensured a 0.5% coupon — a return that investors demand — but one that is now out of reach for most European names in this tenor.
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Georgian TBC Bank printed its long-awaited $300m five year bond on Wednesday from a book of over $700m.
