CEE Bonds
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Magyar Nemzeti Bank (MNB) — the Hungarian central bank — is planning to buy RMB-denominated bonds for its official holdings. -
Ukreximbank and Oschadbank’s Eurobonds rallied on Monday after Ukraine’s Ministry of Finance indicated that those bonds will not receive a reduction in the principle outstanding amount.
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Far Eastern Shipping Company (Fesco) is looking to buyback $85m of its 2018s and 2020s but is using additional funding, rather than existing cash, to finance the tender offer.
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With the European Central Bank bond buying programme creating the perfect market for locking in long dated funds at record low yields, the Republic of Poland this week made the most of sublime conditions to print a 12 year with a coupon of 0.875%. Virginia Furness reports.
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Ukraine Export-Import Bank is asking bondholders to approve a three month extension to its Eurobond due April 27 and the prospect of full repayment looks bleak.
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Gianfranco Bisagni has joined the corporate and investment banking division of UniCredit as deputy head, as the bank splits divisional responsibilities in two.
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Tinkoff Credit Systems has bought back $80m of its 2015s, impressive considering Tinkoff’s bonds have rallied along with the rest of the Russian Eurobond market, according to bankers.
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Poland printed its new 12 year note with a 0.875% coupon on Monday, making a big saving on where it priced a 2024 at 3% last January.
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Russian Standard Bank’s recent $40m buyback across three of its outstanding Eurobonds fell short of the $150m targeted, suggesting investors may have wanted to hold onto the bonds.
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Poland on Monday announced a €1bn 12 year note, its first euro-denominated offering since January 2014.
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Ukraine Export-Import Bank is asking bondholders to approve a three month extension to its Eurobond due April 27 and the prospect of full repayment looks bleak.
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Russian sovereign Eurobonds have rallied a lot since the end of January, dragging along many corporates with them. A number of factors are contributing to the apparent optimism, but analysts are debating how long the rally can last.
