CEE Bonds
-
No emerging markets issuer has yet hit screens this week to capitalise on the exceptional momentum of last week’s market. -
-
-
Confidence is sweeping through the CEEMEA bond market as huge volumes for some of 2018’s most maligned issuers have pushed volumes up to record breaking levels for the first fortnight of a year. But despite the strong start, some bankers are concerned that the difficulties of last year are a whisker away from making a comeback. Francesca Young, Lewis McLellan and Sam Kerr report.
-
-
Emerging markets got off to a cracking start for the year this week with a slew of sovereign deals hitting screens. High quality, low beta sovereigns Israel and Slovenia began proceedings with impressive euro deals.
-
Turkey made its first capital markets foray of the year with a $2bn bond issue on Wednesday. But bankers were divided on the deal's success.
-
Yapi Kredi sold the first ever public additional tier one (AT1) bond from Turkey on Wednesday, which leads said would act as a benchmark for future issuers from the country despite the deal having been largely sold to the borrower’s shareholders.
-
Turkey has come to market for a 10 year dollar benchmark, reasserting its status as one of emerging market bonds' most frequent borrowers after a turbulent 2018.
-
Yapi Kredi, the Turkish bank, has set the pricing for its additional tier one bond though eschewing a “traditional bookbuild process”.
-
Emerging markets have leapt back into action as investors take full advantage of the wider levels on offer in the asset class. Even some of the sector’s most turbulent credits are coming to market.
-
An old argument has rattled on for years between some CEEMEA issuers and banks about the wisdom of paying nothing to banks to arrange sovereign bonds. Uzbekistan has settled it.
