CEE Bonds

Synthos SA made a strong debut on Wednesday with a seven year non-call four debut offering. Rarity of supply from both the sector and from Poland buoyed investor support for the deal which offered a decent yield compared to where quasi-sovereigns are trading.

Synthos SA, a leading manufacturer of chemical raw materials in Central and Eastern Europe, is out with guidance for a euro-denominated bond after wrapping up investor meetings on Monday.

Bank of America Merrill Lynch has lost a senior emerging markets DCM banker.

Turk Eximbank priced a new seven year offering on Wednesday. While demand was not overwhelming across the two-day execution, the $500m bond came inside its implied curve and attracted a high-quality book.

The Republic of Turkey broke new ground this week with its ¥100bn 10 year Samurai — the first JBIC guaranteed bonds that incorporate a principal-only guarantee.

ABH Financial, the holding company of Russian private bank Alfa Bank, is planning a one year European commercial paper issue this week via UBS, according to three bankers away from the deal. The note’s size is capped at $100m.

The book for the Republic of Turkey’s ¥100bn 10 year Samurai reached ¥120bn before pricing, according to a syndicate official on the deal.

The Republic of Turkey priced its ¥100bn ($933m) 10 year Samurai at 29bp over yen swaps offer on Wednesday. The bond is guaranteed by Japan Bank for International Co-operation (JBIC) which enabled the country to make a substantial saving on where a new dollar or euro bond would have come.

Turk Eximbank priced a new seven year offering on Wednesday. While demand wasn’t overwhelming across the two day execution, the bond came inside its implied curve and attracted a high quality book.

Magyar Export-Import Bank is meeting investors in Europe and the US for a proposed bond. The Exim bank is returning to the market without a guarantee from the World Bank and bankers away from the trade expect it to be popular with investors.

Azeri Accessbank is roadshowing a small-sized European commercial paper issue in London this week via BCP Securities and BNP Paribas.

The Republic of Turkey is set to price a ¥100bn 10 year Samurai at 29bp over yen swaps offer on Wednesday. The deal is backed by the Japan Bank for International Co-operation (JBIC).