CEE Bonds
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RusHydro, the Russian hydroelectric power generator, will meet investors next week for a Eurorouble bond. -
Some of the wealthiest and most influential businesspeople in the Russian Federation received an expected, but still unpleasant, piece of news on Monday with the publication of a US Treasury Department list that is expected to precede new sanctions, write Sam Kerr and Bianca Boorer.
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Despite the impending US Treasury recommendations on Russian sovereign debt, Russian OFZ’s hit their highest cash price since 2015 this week, suggesting investors are betting heavily that the report will come to nothing.
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Romania issued €2bn of new debt with a dual tranche offering on Thursday, taking the largest portion of funds with a new 20 year bond.
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Two Russian issuers forged ahead with plans to issue Eurobonds this week, despite increasing noise around Russian sanctions that threaten to push spreads wider.
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The Republic of Poland exceeded its own and its leads’ hopes when it issued its second green bond this week. Piotr Nowak, undersecretary of state at Poland's finance ministry, told GlobalCapital that with 41% of green accounts participating, the sovereign had succeeded in diversifying its investor base.
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Republic of Romania offered investors a rare opportunity to buy sovereign debt from central and eastern Europe with a three digit spread on Thursday.
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Moscow’s Domodedovo Airport (DME) has named leads for dollar roadshows, potentially adding to the $2bn of supply from Russian issuers so far this year.
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The Republic of Poland has set final terms for its €1bn 8.5 year green bond, with books over €3.4bn at the last market update. A banker away from the deal called the final level tight.
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The long anticipated US Treasury Department report on oligarchs and parastatal entities of the Russian Federation was published on Monday night, but no indication of the Treasury’s recommendation on sanctioning Russian government debt was given.
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Aviva Investors has brought in experienced analyst Carmen Altenkirch as a sovereign analyst on its emerging market debt team.
