CEE Bonds
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Turkish Garanti Bank has released price guidance equating to a 35bp new issue premium for its new dollar benchmark 2019s, according to an origination official on the deal. Bank of America Merrill Lynch, BBVA, Citi and HSBC are arranging the sale.
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BBVA Chile is set to become the latest Chilean issuer to tap the Swiss franc market on Thursday afternoon, hoping to benefit from strong demand for Latin American — particularly Chilean — paper from Swiss investors in spite of its weak ratings. -
Turkiye Finans has taken advantage of Turkey’s post-election rally to hit the road on with a Reg S dollar sukuk, which is only the second non-sovereign Turkish bond to surface this year.
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HSBC has shuffled its emerging markets debt capital markets business in London, changing the jobs of two senior managers.
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Romania has picked four banks from its primary dealer list to lead manage a euro-denominated bond, according to two sources away from the deal.
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Two airport companies and one broadcaster are seeking to issue euro bonds, as new issuance has slowed after an exceptionally busy period.
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Gazprombank Asset Management has launched new Russian equity and fixed income funds, and is planning to launch another new fund before year end. The launch comes as the Russian economy shows signs of sickening, but low valuations in the Russian market could be a help rather than a hindrance for the new funds.
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After finishing last year at the top of the CEEMEA bond bookrunner league tables, Deutsche Bank has slipped to eighth position in Dealogic’s ranking for the first quarter of this year.
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German pension funds have joined Japanese investors hunting for long dated paper from sub-sovereigns, according to medium term note dealers. They are finding super long paper from French regions, but supply is limited and German regions are beginning to tap the demand by pushing further out along the curve.
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The Republic of Slovenia demonstrated the huge progress it has made since the start of the year, slicing into its euro curve with a dual tranche deal that pulled its spreads in euros and dollars 10bp-20bp tighter.
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An overhaul of Polish covered bond law will increase issuance, said market participants. The reforms should raise loan-to-value limits, allow soft bullets and mandate minimum overcollateralisation, according to an English translation of the text obtained by GlobalCapital.
