CEE Bonds

Black Sea Trade and Development (BSTDB) made it two dollar debuts in emerging market bonds on Thursday today, joining fellow first timer Banque Ouest Africaine de Developpement with a five year deal.

Bank Gospodarstwa Krajowego (BGK), Poland's state development bank, on Thursday released initial price guidance for its 10 year euro deal.

A multi-billion dollar project finance loan for Tengizchevroil (TCO), a Kazakh oil field joint venture, is finally being arranged, said four bankers this week.

Turkey chose on Thursday to take its second chunk of funding this year via a tap after raising $1.5bn with a 10 year in March.

Sberbank has chosen Netherlands–headquartered Wolters Kluwer’s OneSumX for risk management platform to streamline its global treasury operations.

Moskovskaya Birzha (Moscow Exchange, or MOEX) has vowed to improve risk management and will expand the range of foreign exchange services it provides.

Periphery bank capital is back on the menu for investors this week, leaving FIG bankers feeling they can bring virtually any product to market for the first time since early January. And thanks to Vakifbank, that now includes Turkish covered bonds.

Severstal, the steelmaker, reopened the Russian convertible bond market on Tuesday, with what bankers on the deal said was the first issue since 2013.

Vakifbank’s debt euro Turkish covered bond is good for investors, good for emerging markets borrowers and good for the global economy. But the deal would probably never of happened without the intervention of the European Central Bank.

Books for Turkiye Cumhuriyeti Ziraat Bankasi’s $500m bond closed with books over $2bn on Monday and the bank paying only a 10bp new issue premium for the note, according to a lead manager.

Türkiye Vakiflar Bankasi (Vakifbank) brought a load of new faces to its investor base when it issued Turkey’s first publicly syndicated euro benchmark covered bond — at an extremely low cost of funding.

Books for Turkiye Cumhuriyeti Ziraat Bankasi were at $1bn before the US open on Monday for a five year senior unsecured bond.