CEE Bonds
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Magyar Export-Import Bank has returned to the bond market with a $500m long five year print. But unlike the borrower's last bond excursion, in 2013, the borrower this time chose to proceed without the World Bank's support in the form of a Multilateral Investment Guarantee Agency (Miga) guarantee. -
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Turk Ekonomi Bankasi printed a $21.8m January 2015 fixed rate medium term note through BNP Paribas on Wednesday. Priced at par, the note pays a coupon of 1.2%.
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Magyar Export-Import Bank has returned to the bond market with a $500m new long five year print. But unlike the borrower's last bond excursion in 2013, the borrower this time opted to proceed without the World Bank's support in the form of a Multilateral Investment Guarantee Agency (Miga) guarantee.
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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.
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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.
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Bank of America Merrill Lynch has lost a senior emerging markets DCM banker.
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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.
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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.
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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.
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The book for the Republic of Turkey’s ¥100bn 10 year Samurai reached ¥120bn before pricing, according to a syndicate official on the deal.
