CEE Bonds
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TengizChevroil, the Kazakh oil consortium, launched by far the biggest Eurobond from the country this week, with a $1.1bn 10 year deal that attracted a remarkable $6bn of orders.
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Both the euro and the dollar bond markets offered investors the widest range of credits to choose from this week as bankers continued to marvel at the astonishing tone of the major currency sectors in the first few weeks of 1999 and the wide variety of credits tapping them. Emerging market issuers made a welcome return to the international bond markets. Latin issuers continued to search for novel ways to raise funds, with Argentina raising $1bn of bonds with warrants and Pemex a similar amount in bonds linked to oil receivables.