CEE Bonds
-
Slovenia tapped two euro bonds for €700m this week to exchange investors out of some of its dollar debt, in a move that bankers said shows the issuer is one of Europe’s most astute borrowers.
-
Ukraine made a barnstorming return to the international bond market this week and extended its curve to 15 years, though the new deal has slipped below reoffer in the secondary market.
-
PKO Bank Hipoteczny extended its covered bond curve this week with a deal that was more widely distributed and attracted more demand than any of its previous deals. -
Slovenia has set final terms on a €700m combined tap of its 2027 and 2040 notes, with leads expecting the trade to have wrapped up by early afternoon on Wednesday.
-
Kazakhstan’s KazTransGas has made its debut in the bond markets, raising $750m of 10 year money close to where its state-run owner KazMunaiGas trades.
-
Corporate issuer debuts and long awaited sovereign market returns have given emerging market investors an array of trades to look at this week, surprising some who thought they were in for little more than watching the US Federal Open Markets Committee meeting on Wednesday.
-
Kazakhstan’s KazTransGas has opened books on a debut 10 year dollar benchmark trade with initial price thoughts that leads reckon is around 30bp back of its similarly rated state-run owner, KazMunayGas.
-
Ukraine opened books on its first Eurobond since 2013 on Monday, with the pricing labelled both “attractive” and “silly” by different corners of the market at initial price thought levels.
-
The EM bond market is primed for trades this week, though syndicate bankers said that there were few names ready to pull the trigger other than Ukraine and the Islamic Development Bank (IDB), which have already hit screens.
-
-
The Central Bank of Russia (CBR) has added Credit Bank of Moscow (CBM) to its list of systemically important banks (SIBs) this week, prompting a 2.5 cash point rally in the issuer’s subordinated bonds.
-
