CEE Bonds
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A slew of unusual CEEMEA issuers this week announced plans to meet with investors: Global Ports Investments, Kenya, Ahli Bank Qatar and Alternatifbank. Some are specified as non-deal meetings while others are focussed on specific deals.
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Russian container terminal operator Global Ports Investments has mandated six banks for its debut Eurobond and is embarking on a roadshow for the deal. The last time a debut issuer from the country tapped the bond markets was in 2013.
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Isbank reopened the senior market for Turkish financials in style on Wednesday with an oversubscribed deal that was priced tight to the issuer’s existing curve. -
Poland has returned to the dollar market after its ratings downgrade and, in printing with the lowest new issue premium for a dollar CEEMEA sovereign bond this year, has knocked out any lingering concerns about appetite for its debt.
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HSBC has promoted from within to head its wholesale banking business in Turkey.
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Isbank emerged on Wednesday with the first senior deal from a Turkish financial borrower since last April.
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Poland has released price guidance for its first international dollar bond since its tumultuous January euro print.
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The only spot of new bond activity in the CEEMEA market so far in this week was Poland’s first dollar deal of the year, but there was plenty of loans market activity in the region to keep bankers occupied.
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Poland is considering a Panda bond issue, and is hoping to meet investors in China in the second quarter of this year for the deal, according to a source in Poland’s Ministry of Finance.
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Russia is making preparations to sell an offshore renminbi bond, its debut in the currency and the government’s first international bond since 2013. But with sanctions still in place and renminbi liquidity limited in Russia, the sovereign is planning to ask China to relax one of its outbound investment schemes so that mainland investors can buy the deal.
