CEE Bonds

At least three Turkish banks have set up covered bond programmes and could theoretically be ready to issue their first benchmarks this autumn. However, even if the political outlook improves, the cost of funding in dollars using established senior unsecured programmes may be difficult to beat.

Ukraine's Privatbank is offering holders of its 2015 Eurobonds better terms for a second reprofiling attempt if they agree to an interim three month maturity extension.

The Ministry of Finance of Ukraine has agreed to meet with its ad hoc creditors’ committee on Wednesday in San Francisco where Ukraine’s biggest creditor, Franklin Templeton, is based.

UniCredit’s second quarter profits were up almost 30% from last year, with the commercial and investment bank and Italian commercial bank taking most of the credit. The CEE business remains important, but Russia dragged the division sharply down.

Emerging markets bankers say Turkish banks, in their new enthusiasm for MTNs, have taken their devotion to an alternative market a little too far. But the Turkish issuers are only using this market exactly as they were sold it.

The Ministry of Finance of Ukraine has bowed to its creditors’ request for more time in preparing a revised restructuring offer. The two sides will now meet early next week, but analysts believe the chance of Ukraine imposing a debt moratorium are increasing.

The Ministry of Finance of Ukraine has catered to its creditors’ request for more time in preparing a revised restructuring offer. The two sides will now meet early next week, but analysts believe the chance of Ukraine imposing a debt moratorium are increasing.

Ukraine’s finance minister Natalie Jaresko has invited the country’s creditors to a meeting in London on Thursday to discuss her government's restructuring proposal in an attempt to agree on a solution for the country's worsening debt crisis.

Gunvor Group started a buyback offer on its dollar bonds this week, prompted by a $1.7bn profit it made from selling Russian assets.

Emerging markets bankers say Turkish banks, in their new enthusiasm for MTNs, have taken their devotion to an alternative market a little too far. But the Turkish issuers are only using this market exactly as they were sold it.

Bondholders overwhelmingly approved State Savings Bank of Ukraine’s (Oschadbank) Eurobond reprofiling plans this week, which senior board members said should answer rumours of a possible default.

The Republic of Slovenia on Thursday ripped into the private placement market for the first time, fulfilling a desire at the ultra long end.