CEE Bonds
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Promsvyazbank priced an inaugural additional tier one dollar deal at 8.75% on Wednesday morning after attracting more than $1.1bn of orders. -
Hungary priced its debut Panda bond just before 5pm on Wednesday, completing the second onshore renminbi bond deal by a European sovereign.
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Supply continued to seep into CEEMEA bond markets at the start of the week despite the looming summer slowdown and Wednesday’s US Federal Open Markets Committee meeting.
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Odeabank took advantage of limited supply in emerging market bonds to price a well-received Eurobond debut on Monday.
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Promsvyazbank (PSB) was on track on Tuesday morning to become the third Russian lender to issue additional tier one (AT1) dollar debt this year after releasing price guidance for an inaugural deal in the format.
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Türkiye Halk Bankasi (Halkbank), the Turkish state-owned lender, has confirmed that it plans to issue mortgage-backed covered bonds. It joins seven Turkish lenders that have rated covered bond programmes in place.
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Turkey's Odeabank revised guidance to 7.75% area for its Basel III-compliant 10 year non-call five tier two bonds on Monday, as investors got to grips with a new credit, and anticipated return of compatriot and peer, Halkbank.
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The Eastern European sovereign announced the price guidance for its three year debut Panda bond on July 25, after agreeing on a Rmb3bn ($445m) Panda programme with onshore authorities last week.
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After selling a green mortgage-backed covered bond to the International Financial Corporation and the European Bank for Reconstruction and Development (EBRD), Garanti Bank expects to sell its first publicly syndicated euro benchmark.
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After selling $150m of green residential mortgage-backed covered bonds to the International Financial Corporation, Garanti Bank expects to sell another deal to the European Bank for Reconstruction and Development.
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BNP Paribas has hired a senior EM credit trader to join its emerging markets trading desk.
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Poland’s PKO Bank offered IG investors a healthy pick-up to the Polish sovereign curve with its new four year note on Tuesday.
