CEE Bonds
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Avangard, the Ukrainian agribusiness, announced last week that it intends to implement a restructuring proposal with three aims.
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Turkcell has mandated BNP Paribas, Citi and HSBC for a debut dollar bond and is set to meet investors in the US and Europe next week ahead of the deal.
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The Republic of Latvia sold its €500m 10 year bond on Wednesday attracting a €800m book and a new SSA investor base.
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The Republic of Latvia sold its €500m 10 year bond on Wednesday attracting a €800m book and a new SSA investor base.
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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.
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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.
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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.
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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.
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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.
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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.
