CEE Bonds

Credit Bank of Moscow (CBM) opened books on Monday for its return to the dollar market, taking orders for five year loan participation notes.

After completing a roadshow, Slovak Vseobecna uverova banka (VUB), a subsidiary of Intesa Sanpaolo, is set to issue its first euro-denominated covered bond in benchmark size.

Ukraine drew attention for all the wrong reasons this week, tapping a November 2028 line for $350m, allegedly well below the market value.

Ukraine courted controversy this week, turning to the private market to tap its November 2028 bond. The trade caught the attention of investors and bankers, with some saying that JP Morgan had retained the deal and priced it well below the market rate. Lewis McLellan reports.

Kosmos Energy on Thursday announced a new seven year Reg S/144A dollar bond, callable in 2022.

The Bank of Georgia has mandated banks for an additional tier one deal — its debut in the format.

PPF Arena has picked banks for its first ever bond, a Reg S senior euro benchmark with a tenor of four to six years.

Credit Bank of Moscow (CBM) is going on the road to promote a dollar loan participation note, returning to its usual external funding currency after a flirtation with euros in February.

Turkey’s economy contracted sharply in the last quarter of 2018, bringing the economy into a formal recession. But investors remain happy to pile into Turkish paper.

Two Turkish borrowers hit the market on Thursday, following in the wake of a Koç Holding trade earlier in the week and making it Turkey’s busiest week for deals in almost three years.

Ukraine goes to the polls at the end of March for presidential elections, with investors in Kiev hoping that a reform-friendly result might help the country share more fully in the emerging markets rally.

Two Turkish borrowers hit the market on Thursday, one returning to the market after a six year hiatus. Coming in the wake of a Koc Holding deal this week, the three deals make this Turkey’s busiest week for deals in almost three years.