CEE Bonds
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Renaissance Credit has extended the deadline of its buyback of subordinated bonds due 2018 by a day to allow private banks to get their documentation in order. -
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.
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Montenegro priced a €500m bond late on Thursday afternoon in London, printing its largest ever bond, though stuck with a five year tenor.
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While Montenegro was speedily printing a euro-denominated bond this week, two more central and Eastern European countries queued up behind it to take their own deals on roadshows.
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The State Oil Company of the Azerbaijan Republic (Socar) printed a twice subscribed $750m bond on Wednesday, becoming the first oil company from CEEMEA to access the bond since the dramatic fall in the oil price since the end of last year.
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Play Finance has increased the size of its secured 2019s by €125m to €725m.
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Sappi, the Austrian-South African paper maker, on Thursday priced its €450m of senior secured bonds inside price guidance, into a high yield market with solid demand this week.
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Renaissance Credit is offering to buy back its subordinated 2018s in a bid to eliminate coupon costs on the amortising note.
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The State Oil Company of the Azerbaijan Republic (Socar) printed a $750m bond on Wednesday, a lower size than the market was expecting.
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Montenegro is offering an appropriate 25bp premium at price talk for its new five year Eurobond, according to bankers.
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Armenia has mandated the same three banks for a new issue and buyback offer as it used for its debut in 2013.
