CEE Bonds
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With equity prices around the world tumbling, emerging markets bankers are watching to see just how badly their asset class will be affected. -
Sibur, the Russian petrochemical company, announced a bond buy-back on Tuesday, targeting the borrower’s October 2023 bond.
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Turkey is braced for one of the most important political events of what has been a turbulent year; the hearing of US pastor Andrew Brunson. The consequences could shape Turkey’s recovery from its recession. Elsewhere, a Russian mining company's loan showed the country is not quite closed for business, and after weeks of quiet, Latin American markets have bounced into life.
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Slovakia’s Slovenská sporiteľňa (SLSP) has issued the first Aaa rated Slovakian covered bond paving the way for the country's first publicly syndicated euro benchmark. UniCredit has also privately placed a €500m Slovak covered bond.
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Romania was able to cut the spreads on both tranches of its euro benchmark on Thursday.
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Romania hit screens on Thursday morning for its second dual tranche euro benchmark of the year.
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Turkish and Argentine assets have been battered over the past few months, but one investor believes that both countries can provide good value and is expanding its exposure.
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The Republic of Albania returned to the capital markets for the first time in three years on Tuesday, selling a euro benchmark.
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Dmitry Gladkov has been promoted to be Renaissance Capital’s acting global head of investment banking, replacing James Friel.
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The Republic of Albania hit screens on Tuesday to print a €500m seven year no-grow and, in the face of strong demand, was able to pull in the spread.
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Turkey’s manufacturing PMI dropped steeply in September, joining the cavalcade of evidence pointing to the country being in recession. But government support of banks is reflected in their dollar debt and diplomatic relations with the rest of the world appear to be improving.
