CEE Bonds
-
Turkey's state-owned Halkbank on Thursday printed the first CEEMEA bond since the UK's Brexit vote threw EM into a brief bout of chaos last week and in defiance of terror attacks in Istanbul.
-
-
Developing market debt has emerged as a stronghold as markets continue to adjust to the fallout from the UK’s EU referendum last week. While panic hit spreads at first, fund flows quickly returned and credit across the CEEMEA universe rallied. -
In Turkey a series of explosions at Istanbul’s Atatürk international airport on Tuesday left at least 41 people dead and many more injured. But the market response has been muted.
-
Russia may benefit from UK’s vote to leave the EU as analysts suspect the resolve to maintain sanctions against the former may wain over coming months. Attention is now turning to the US presidential elections in November as another event that may corrode the West’s desire to keep sanctions.
-
Russian steelmarker Evraz plans to buy back what is left of its $600m of notes due 2017 it said on Wednesday.
-
Restructuring talks have further been delayed after holders of Far Eastern Shipping Company (Fesco)’s ruble denominated debt failed to agree to a waiver on Monday which would remove their right to claim early redemption of the notes by November 28.
-
Russia's Brunswick Rail has approached investors with a new offer after failing to reach a restructuring agreement with holders of its $600m bonds due 2017 after several months of negotiations. A source close to the company said that this was Brunswick Rail's last offer.
-
Emerging market bankers said on Monday that they are optimistic that developing market credit will hold firm as Britain forges ahead into the “world of the unknown” after voting to leave the EU on June 23. But the verdict on primary markets was unanimous: closed for the foreseeable.
-
Mobile TeleSystems (MTS) bought back over half of its remaining notes due 2020, the company said last week.
-
Emerging market bond bankers called Britain’s decision to leave the EU on Friday "madness" but while the fundamental implications for most EM credit are expected to be limited, bankers are fiercely debating how instability in the European Union will affect eastern Europe.
-
Emerging market bankers called Britain’s decision to leave the EU on Friday "madness" and in line with the broader global market, EM credit has lost all the gains it made last week.
