CEE Bonds
-
The Republic of Latvia sold its €500m 10 year bond on Wednesday attracting a €800m book and a new SSA investor base.
-
The Republic of Latvia sold its €500m 10 year bond on Wednesday attracting a €800m book and a new SSA investor base.
-
The Republic of Latvia has released initial price guidance at 40bp area over mid-swaps for its new 10 year euro denominated bond, representing only a 20bp new issue premium, but a doubling of the sovereign’s secondary spreads, according to bankers away from the note.
-
The Republic of Latvia has mandated DNB, HSBC and Natixis to arrange a 10 year euro denominated benchmark bond, its first since the start of ECB sovereign bond buying. -
Polish state owned power company Polska Grupa Energetyczna (PGE) has picked banks for a benchmark euro transaction.
-
Estonian power company Eesti Energia opened books on a new euro transaction on Thursday morning, following the deadline for a tender offer on its outstanding bonds the day before.
-
Holders of Privatbank’s 2015 bonds agreed to a reprofiling, the lender announced this week. But the terms of the agreement present those same bondholders with an incentive to scupper a similar agreement on Privatbank’s 2016 notes, analysts said.
-
Ukraine’s creditors should be concerned that the IMF has not yet defined the status of a $3bn Eurobond that Ukraine sold to Russia, said Ukrainian analysts following a IMF/Ukraine government press conference on Sunday.
-
-
Poland reopened the CEEMEA bond market this week after investors in search of safe havens pushed central Eastern European sovereign spreads tighter. Uncertainty over the timing of a US rate hike has left buyers wary of more typical EM names and left CEE sovereigns among the select few that could avoid paying heightened premiums.
-
Talk of Russian issuers’ bond plans has been gathering pace this week as Gazprom has mandated for a bond to be printed before the end of this year, sanctioned VEB looks to 2016 for a Panda bond, and Norilsk Nickel embarks on a series of investor meetings.
-
Bankers are pointing to sovereigns from central Eastern Europe as the best hope for CEEMEA supply although much of the region is bound by the uncertainty of when the US will start to raise rates.
