CEE Bonds
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The bonds of two Ukrainian state-owned banks rallied this week after the ministry of finance indicated that they will get lenient treatment in the sovereign debt restructuring process. -
The Republic of Turkey priced its 11 year bond with a minimal new issue premium as the savvy borrower made the best of low supply in the dollar market.
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Turkiye Sinai Kalkinma Bankasi (TSKB) has mandated five banks to arrange a dollar Reg S bond — BNP Paribas, Citi, Commerzbank, ING, and Standard Chartered Bank.
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DTEK Energy Group, the largest privately-owned energy company in Ukraine, has amended the terms of its exchange offer for its $200m Eurobonds due April 28, 2015
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Ukrainian mining and steel company Metinvest is asking holders of its three outstanding Eurobonds for a maturity extension and a waiver for default events.
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Republic of Turkey is making its second appearance of the year in dollars and is out with an 11 year benchmark bond
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Always one for superlatives, Republic of Mexico has shocked the market with what looks set to be the largest euro century bond, and the first from a sovereign. Leads Goldman Sachs and HSBC are talking the 100 year euro-denominated note at 4.5% area.
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Magyar Nemzeti Bank (MNB) — the Hungarian central bank — is planning to buy RMB-denominated bonds for its official holdings.
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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.
