CEE Bonds
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An inaugural deal from second tier Turkish lender Fibabanka on Wednesday offered further proof that concerns over the country’s political direction have failed to dampen investor confidence in its banks. -
The Republic of Turkey is out with guidance for a new 30 year note, in a move that rival bankers have said is “perfectly timed". The sovereign is on track to complete all of its planned funding for the year in the first five months.
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Sistema bonds fell three and a half cash points on Wednesday morning after Rosneft filed a Rb106bn ($1.87bn) lawsuit against the Russian holding company.
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Russia’s RenCap has bolstered its senior management team with a new sales head as it reorganises its markets business.
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Fibabanka emerged with pricing on Wednesday for the first Turkish tier two bond since last month’s constitutional reform referendum.
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Bank of America Merrill Lynch has hired a former Credit Suisse banker for its emerging markets DCM team.
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If any proof was needed that the “spirit of sanctions” has thawed in the capital markets, $3bn of Russian Eurobonds in one week should be it. Russian borrowers have had their busiest week by volume since the heady days of April 2013, and there is plenty more to come, writes Virginia Furness.
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Ukrainian poultry producer MHP this week reaped the rewards of an unsullied history of debt servicing in the form of tight pricing on its first dollar bond for more than four years.
