CEE Bonds
-
Russia has sold its first Eurobond since 2013, drawing a book of over $7bn, according to analysts, but with doubt still high as to what proportion of that figure was from true overseas buyers. -
High profile sovereign bonds have dominated CEEMEA markets so far this week. Russia returned on Tuesday with its first deal since 2013, but not with the international slam-dunk the sovereign was hoping for. Elsewhere Qatar started book building for its long-awaited bond.
-
Russia’s $1.75bn sovereign Eurobond showed that the country can raise external financing, but that does not necessarily mean that the deal will be recorded as a political success.
-
Russia has not updated the guidance it released on Monday for its first bond since 2013, with a debate over whether Euroclear will settle the note deterring some investors.
-
Russia released on Monday price guidance on its first sovereign Eurobond since 2013, and its first since the US and the EU imposed sanctions on several state-owned companies in 2014.
-
Romania was on track to printed a €1bn 12 year euro-denominated note with a 10bp new issue premium in less than ideal market conditions on Thursday.
-
The European Central Bank’s corporate sector purchase programme will distort CEE corporate bond prices, said bankers this week. And while issuers have so far been slow to react in bringing new deals to market, two CEE corporates printed successful euro denominated bonds this week.
-
Kazkommertsbank, the largest bank in Kazakhstan, intends to buy back up to $300m of its outstanding euro and dollar bonds via auction.
-
Romania was on track to print a 12 year euro-denominated note on Thursday having launched the €1bn trade at 225bp over mid-swaps.
-
Czech Railways printed its €400m seven year bond on Wednesday attracting buyers looking for a pick-up over tightly trading western European corporate debt.
-
-
Ceské dráhy, the 100% state-owned Czech national railway operator, launched its €400m seven year bond on Wednesday after tightening price guidance twice.
