CEE Bonds

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.

Oliver Koepke is leaving mBank this week and Karol Prażmo will take over the role of head of treasury for mBank Group.

Zurich-based Swiss Reinsurance Company (Swiss Re) received the first quota in the RMB qualified foreign institutional investors (RQFII) programme among Swiss asset managers on July 29, according to the latest data from the State Administration of Foreign Exchange (Safe).

Ak Bars Bank launched the first Russian new issue of this year on Thursday evening in London, pricing at a yield of 8% from a book approaching $450m.

The euro market provided a mixed bag this week with Royal Bank of Canada pricing a €1.25bn five year FRN just a day after Banco Sabadell was forced to pull a four year bullet.

Once the wild west of finance, emerging markets had dodginess and defaults aplenty. Now ethical investors want socially responsible investments. But if SRI criteria are too strict there will be nothing to buy, writes Steven Gilmore.