CEE Bonds
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Renaissance Credit has announced its intention to come to market for a Reg S euro subordinated bond. The trade will be the borrower's first trip to the market in almost six years. -
To believe their PR, banks are now paragons of clean, sustainable economic development.
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Ukraine will have to wait until after its snap parliamentary elections to arrange its next disbursement from the IMF, but the country will rely on the domestic market to meet its refinancing needs.
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The Russian sovereign could soon issue its next Eurobond, with both euros and dollars on the table. But if it does launch a deal, the move will be as much financing as it will be a political play to help defend the country from more US sanctions. Francesca Young reports.
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GeoProMining Group, a mining company operating in Russia and Armenia, announced its first ever bond on Thursday — a Reg S dollar five year.
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TBC Bank, Georgia’s largest bank by assets, loans and deposits, is hitting the road to market a dollar senior unsecured bond.
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Magnitogorsk Iron and Steel Works, the second largest steel producer in Russia is embarking on a roadshow for a dollar benchmark five year bond — its first for 16 years.
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Russian borrowers are making their presence felt in international capital markets. Two syndicated loans are expected to close this week, as well as a bond from a steel manufacturer. The sovereign is also eyeing up the the primary bond market, but the threat of further US sanctions still looms.
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Novolipetsk Steel (NLMK) placed a $500m seven year bond on Wednesday inside its own curve and at its tightest ever spread to the Russian sovereign, according to a lead manager on the deal.
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US Energy Secretary Rick Perry said on Tuesday that a sanctions bill restricting companies involved in Russia's Nord Stream 2 project would come in the “not too distant future”. That left investors wondering how and if this will affect their portfolios as bond bankers dredged up memories of when Nord Stream 1 was on track to print its own international bond through BNP Paribas before capital markets sanctions were imposed on Russia in 2014.
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Novolipetsk Steel (NLMK)’s $500m seven year bond drew a book in excess of $1.5bn on Wednesday morning allowing leads to tighten initial guidance, which they said offered a 30bp new issue concession.
