CEE Bonds

Moscow may have only secured a Rmb150bn ($24bn) currency swap line with the People's Bank of China in October 2014, but local banks and exchanges have already built solid businesses around the RMB needs of commodities giants and other corporate and banking clients. GlobalRMB spoke to Igor Marich, managing director, money market business, at the Moscow Exchange (MOEX) about recent developments in its RMB product offering.

Kazakh Tsesnabank is embarking on a non-deal roadshow in London.

As the half year point of 2015 approaches, year to date CEEMEA volumes are at their lowest in six years. No bookrunner has escaped the plunge in volumes although a couple of institutions have managed to beat the odds and take a larger share of a shrinking CEEMEA market.

As the half year point of 2015 approaches, year to date CEEMEA volumes are at their lowest in six years. No bookrunner has escaped the plunge unscathed. But some have suffered more than others, and a rare few have taken a larger share of a shrinking CEEMEA market.

Gabon has ended a weeks-long run of Middle East dollar benchmarks with a 10 year transaction, but National Bank of Abu Dhabi and Drake & Scull International are making sure the Middle East remains the driver of CEEMEA supply.

The Gabonese Republic and MFB Hungarian Development Bank have little in common, other than being the best prospects to break the Middle East’s dominance of the CEEMEA benchmark market.

Troubled Ukrainian steelmaker Metinvest failed to draw a quorum at a bondholder meeting on June 1 — part of a prolonged attempt to reprofile its debt.

Podemos, the anti-austerity political party in Spain, is mounting a strong challenge to traditional political parties with a general election due by the end of the year. Eduardo Gutiérrez, economic adviser to Podemos, talks to Victor Jimenez about the party’s plans if it comes to power.

Latvenergo, a state-owned Latvian electricity company, opened books on a sub-benchmark sized green bond on Wednesday morning — its first ever international bond deal and Latvia's first green bond.

Troubled Ukrainian steelmaker Metinvest failed to draw a quorum at a bondholder meeting on June 1 — part of a prolonged attempt to reprofile its debt.

MFB Hungarian Development Bank (MFB) has mandated for its first euro deal in four years, and kicks off investor meetings next week.

The Middle East is still churning out deals and replenishing its pipeline, but a Gabonese Republic mandate offers hope of some diversification in CEEMEA. Petrobras and Buenos Aires, meanwhile, are among the names lighting up the Latin American bond markets.