CEE Bonds
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Belarusian food retailer Eurotorg tightened price guidance on Wednesday for a $300m-$350m bond to 9.125%-9.25%. Syndicate officials away from the deal said that level was much wider than they expected for the note but a lead manager has launched a staunch defence of pricing. -
Emboldened by the ability of its neighbour Tajikistan to access the capital markets, Uzbekistan is preparing ground to secure its first sovereign rating, with a view to issuing a Eurobond in the future, according to sources.
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Turkish oil refiner Tupras hit screens for the first time in five years on Thursday, with the transaction successful despite a geopolitical ruckus and a fatal tragedy at one of the company’s plants.
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Romania reopened its 2.375% April 2027s on Tuesday for €1bn, pricing the tap 12bp inside initial price thoughts that were described as “very attractive”.
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Turkish oil refiner Tüpraş is on screens for the first time in five years, with the transaction expected to be successful despite a geopolitical ruckus and a fatal tragedy at one of the company’s plants.
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Russia’s Renaissance Capital has hired Petr Molchanov as head of investment banking for its home market.
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Romania reopened its 2.375% April 2027s on Tuesday for a further €1bn, pricing the tap 12bp inside the “very attractive” initial price thoughts.
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Moody's expects Agrokor's creditors to recover at the low end of the 35% to 65% range on average, and that unsecured bondholders will get less than 35% of what they are owed.
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Food retailer Eurotorg met investors this week to market the first ever international bond from a Belarusian corporate, but bankers were sceptical about whether there will be an influx of issuance from the former soviet state.
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After several years financing in the domestic and Asian markets, Hungary turned its attention to the next stage of reducing its external liabilities this week, and was overwhelmed by the positive response to its dollar euro switch, György Barcza, chief executive of Hungary’s debt management agency (AKK), told GlobalCapital.
