CEE Bonds
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The seizure of three Ukrainian navy ships by Russia on Sunday has sparked civil unrest in Ukraine and driven the tension between the two countries to new heights, wreaking havoc on Ukraine’s capital markets. -
In this round-up, China and the Philippines sign Memorandum of Understanding (MoU) for a new Panda issuance, survey finds that 64% of Chinese investors choose to invest domestically rather than overseas, and foreign firms are getting approvals to help China build a nationwide credit information monitoring system.
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Belarus is working to issue its first sovereign Panda bond, GlobalRMB understands.
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Russia’s O1 Properties has implemented another deadline extension on a consent solicitation on its $350m 2021 notes, with analysts reckoning that there still could be further requests for more time.
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In this round-up, wealthy Chinese individual investors now have access to local government bonds, Russian and Chinese leaders in the financial industry are meeting to strengthen mutual market access, and northbound trading volume via Stock Connect reached Rmb8.77tn.
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Naftogaz and Emirates National Bank of Dubai (ENBD) shelved plans for five year dollar benchmarks this week, thanks to a steep fall in the oil price and what bankers referred to as weak sentiment.
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Gazprom raised €1bn on Tuesday from the first public international bond sale from Russia since April saw the US imposing a punitive round of sanctions on the country. Rushydro followed on Thursday with a Rmb1.5bn ($220m) three year bond.
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Two emerging market borrowers had to postpone deals this week, thanks to volatility in the market. Naftogaz and Emirates NBD have had to put plans for their five year dollar benchmarks on hold.
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Gazprom on Tuesday sold the first public international bond from Russia since a punitive round of US sanctions was put on the country in April.
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Two emerging market borrowers have been forced to postpone planned deals this week, with investors demanding better yields to risk their cash in the volatile market.
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Russian giant Gazprom and Ukrainian oil and gas firm Naftogaz, who have been locking horns in court, both chose Tuesday to release price guidance for new Eurobonds. The Gazprom deal will be the first public international bond from a Russian issuer since the US sanctions that shook the market in April. The Naftogaz bond is its first since 2009.
