CEE Bonds
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Turkish banks have become reliant on short term MTN funding, using access to that market as a reason to refuse to print benchmarks after their spreads have drifted wider this year.
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Georgia fertiliser firm, Rustavi Azot postponed its $180m five year non-call three bond on Wednesday, having released initial price guidance for the deal a week before.
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Ak Bars Bank has released guidance of 8% area yield for the first Russian new issue of 2015. Bankers away from the deal refuse to believe that the bond was not largely pre-sold.
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Ukrainian lender Privatbank is asking investors for a short maturity extension on its 2015 Eurobonds, while it talks to holders of its 2015 ans 2016 notes in an effort to agree on a plan to restructure the bonds.
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The short term risk of Grexit might have receded, but nothing really looks solved. In nearly every currency union in history, once a sovereign joins a currency, it doesn't leave — except for the Pope.
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Slovenia’s development bank, SID Banka, increased priced its first deal in five years on Tuesday, raising the deal size from a planned €250m.
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Georgia fertiliser firm, Rustavi Azot has postponed its $180m five year non-call three bond, having released initial price guidance for the deal a week ago.
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Turkish banks have become reliant on short term MTN funding, using access to that market as a reason to refuse to print benchmarks after their spreads have drifted wider this year. -
CEEMEA supply is stumbling, with the week’s tally at one deal priced and one deal pulled. But Latin American offers hope of more fresh paper, with Mexican, Brazilian and Caribbean corporates all readying deals.
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Renaissance Capital has hired James Friel as global head of investment banking.
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Slovenia’s development bank, SID Banka, opened books on a €250m three year deal on Tuesday morning.
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Georgian firm Rustavi Azot has held price guidance for its $180m five year non-call three notes at 12.5%-13% and is expecting to price the deal later on Monday.
