CEE Bonds

mBank was back in the euro market on Thursday with a seven year note. The Polish bank is looking to become a regular issuer and is taking the opportunity to extend its curve this time round.

The Republic of Turkey raised $1bn with a 10 year sukuk on Tuesday, closing the gap between its conventional and Islamic funding costs to just a handful of basis points. Despite some disagreement over just how close the issuer got to conventional levels, the tight pricing provides ammunition for debt bankers trying to tempt other sovereigns into the Islamic market.

The deadline for approval for Metinvest’s proposed exchange offer has passed but analysts say it is not certain whether the majority of investors will accept the offer from Ukraine’s largest steelmaker.

Debt bankers are hoping to bring a new German corporate borrower to the sukuk market in 2015, participants at an EU Islamic banking and finance conference in London told IFIS.

The Republic of Turkey raised $1bn with a 10 year sukuk on Tuesday, closing the gap between its conventional and Islamic funding costs to just a handful of basis points. Despite some disagreement over just how close the issuer got to conventional levels, the tight pricing provides ammunition for debt bankers trying to tempt other sovereigns into the Islamic market.

Turkey launched its first 10 year sukuk on Tuesday morning in an effort to create a proper Islamic curve. The $1bn deal was comfortable subscribed, with only marginal disagreement between debt bankers on and off the deal over the concession relative to Turkey's conventional debt.

Turkey launched its first 10 year sukuk on Tuesday morning in an effort to create a proper Islamic curve. The $1bn deal was comfortably subscribed, with only marginal disagreement between debt bankers on and off the deal over the concession relative to Turkey's conventional debt.

Russia's Uralsib Bank is roadshowing a tier two bond via JP Morgan and UBS, according to a source close to the deal. Meetings for the deal take place on Wednesday and Thursday this week in London and Switzerland.

The Republic of Turkey opened books on a 10 year dollar sukuk on Monday morning. Some bankers away from the deal felt the initial price thoughts were on the cheap side, but also that there was plenty of room to tighten before pricing scheduled for Tuesday.

UniCredit Bank Czech Republic and Slovakia has mandated its own investment bank for a roadshow later this month and expects to issue a euro benchmark deal. The transaction follows the successful placement of a Czech covered bond from Raiffeisen’s subsidiary in October, and a domestically targeted deal from UniCredit subsidiary a year ago.

The Republic of Turkey will price a 10 year dollar sukuk on Tuesday, after releasing initial price thoughts on Monday that some debt bankers felt were on the cheap side.

Alfa Bank Russia priced a long awaited subordinated dollar deal on Thursday, pushing on with its first new style tier two despite a sharp fall in the rouble’s value and intensifying conflict with Ukraine.