CEE Bonds

Poland was quick to grab on to the relief rally that followed Wednesday's US Federal Reserve meeting, jumping into the market with a long 10 year and a tap of its existing €1.5bn 2036s on Thursday morning.

Gazprom became only the second Russia corporate to target the 10 year maturity in dollars since 2013 on Thursday, emerging with initial price thoughts for a new 144A/Reg S benchmark.

Turkiye Sinai Kalkinma Bankasi (TSKB) has announced plans to roadshow an inaugural Basel III compliant tier two dollar deal, a week after Akbank’s successful debut in the format.

ABH Financial, the holding company of Russia’s Alfa-Bank, will meet investors in Europe next week for a rare Russian financial euro-denominated bond.

Evraz saw a strong response to both the new issue and buyback legs of its latest liability management exercise, allowing the Russian steelmaker to print a $750m six year tight to its existing curve on Monday.

Scarcity value helped boost demand for Croatia’s first euro bond for more than two years on Monday, allowing the Balkan sovereign to price a new 10 year inside its existing curve.

Croatia’s revived euro benchmark had received orders of €2.75bn and seen its order books shut by lunchtime Monday with the country having enjoyed a ratings agency boost on Friday to defy any fears of being overshadowed by Kuwait’s sovereign deal, which was also in the market.

Unperturbed by softer markets of late, Russian steel firm Evraz was on track to print a bullish six year bond on Monday morning.

Akbank navigated a tricky market on Wednesday to print a $500m no-grow tier two and managed to charm a higher proportion of US investors than previously seen in any Turkish capital bond, according to a banker on the deal.

Russia supply looks set to continue next week following the announcement by Gazprom of plans for a long-awaited return to the dollar market and the start of yet another liability management exercise from Evraz.

Azerbaijan’s Southern Gas Corridor Company raised $1bn with a tap of its outstanding 2026s on Wednesday but fell foul to underlying rate movements which meant that it did not price at the tight end of guidance, according to a lead banker.

The Republic of Croatia has picked four banks to revive a euro benchmark deal it was forced to delay last year after anti-government protests in Zagreb in the early summer.