CEE Bonds
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The Czech Republic has proposed several legal amendments that will bring its existing covered bond regime into line with the European Banking Authority’s best practice guidelines and which, along with similar moves in Slovakia, will help catalyse new covered bond supply from the region. -
Changes to the list of collateral eligible for repo with the Russian central bank could cause a spike in spreads on local currency bank bonds and push more lenders towards the international markets, analysts said this week.
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Turkey’s Coca-Cola İçecek (CCI) is set to offer investors a rare chance to buy Turkish corporate debt, and has announced its intention to raise up to $1bn from the bond markets within the next year.
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The renminbi’s usage as a global payment currency goes up, BlackRock says full bond index inclusion will drive capital inflows into Chinese fixed income, and foreign ownership of Chinese bonds and equities rise.
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Promsvyazbank (PSB) priced an inaugural additional tier one (AT1) dollar deal at 8.75% on Wednesday morning after attracting more than $1.1bn of orders.
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Odeabank took advantage of limited supply in the emerging market space to price a well-received Eurobond debut on Monday.
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Markets reacted with apathy to the news that the US House of Representatives had voted on Tuesday to expand sanctions against Russia.
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Nitrogénmuvek, the Hungarian fertiliser group, became the second borrower with high yield ratings to cancel a deal this month, after Tereos pulled a highly structured bond seven days ago. This time, the problem was size.
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Hungary plans to make regular returns to the Panda bond market after making a successful debut this week, György Barcza, chief executive of the country’s debt management office, told GlobalRMB.
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Hungarian fertiliser group Nitrogénmuvek launched the smallest high yield bond offering of the year so far on Wednesday. But guidance suggested the borrower seeks to pocket large savings as it refinances its old 2020s.
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Markets reacted with apathy to the news that the US House of Representatives had voted on Tuesday to expand sanctions against Russia.
