CEE Bonds

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.

Kompania Weglowa became the third Polish high yield name to pull a debut eurobond issue in less than four months on Wednesday when it announced plans to postpone a planned five year dollar benchmark.

Swiss franc investors took advantage of a rare opportunity to buy Norwegian senior unsecured financial paper this week when Sparebanken Nord-Norge made its debut in the currency.

Alfa Bank looked to have opted for price over size for its new style tier two subordinated deal as the yield was set at the tight end of guidance of 9.5%-9.75% on Thursday morning.

Kompania Weglowa became the fourth Polish high yield name to pull a debut eurobond issue in less than four months on Wednesday when it announced plans to postpone a planned five year dollar benchmark.

Alfa Bank Russia opened books on a long awaited subordinated dollar deal on Wednesday, pushing on with its first new style tier two despite a sharp fall in the rouble’s value and an intensifying conflict in Ukraine. The deal comes less than a week after Gazprom priced the first international Russian benchmark since July. But Alfa has been planning its sale for months, and was not pulled to market by a pathfinding corporate bond, said bankers on the deal.