CEE Bonds
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Bulgaria stormed back into the market with a giant triple trancher on Thursday — the largest ever euro-denominated bond from an emerging market sovereign.
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Slovenia printed its longest ever bond on Wednesday, a 20 year, taking advantage of a near halving of its spreads since the start of this year to print inside Spanish levels.
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Ukraine intends to restructure $15.3bn of its debt over the next four years, but with little detail, analysts are debating how severe the principal reduction will be. -
Renaissance Credit has bought back $48.5m of its subordinated 2018s. The exercise enabled it to eliminate the coupon cost on almost a third of the amortising note.
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Armenia released price guidance for a 10 year dollar bond at 7.625% area on Thursday morning and the book size is already past the $500m target size.
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Commodity trader Gunvor is offering to buy back $80m of its bond maturing 2018.
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Slovenia printed its longest ever bond on Wednesday, a 20 year, taking advantage of a near halving of its spreads since the start of this year to print inside where Spain's government bonds trade.
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Bulgaria was offering generous premiums on its triple tranche Eurobond on Thursday. But while bankers said pricing looks cheap, they questioned whether the 20 year tranche would sell well.
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Alliance Oil has repurchased $51m of its 9.875% 2015s which were due to mature on March 11. It hopes to extend the maturity of the remaining bonds by four years.
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Slovenia has released price guidance for a 20 year euro benchmark bond at 70bp-75bp over mid-swaps — a first in this tenor for the country.
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Bulgaria has indicated that it is considering up to three tranches with a maximum maturity of 20 years for its long awaited euro-denominated bond.
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Renaissance Credit has bought back $48.5m of its subordinated 2018s. The exercise enabled it to eliminate the coupon cost on almost a third of the amortising note.
