CEE Bonds
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Poland tightens guidance on $8bn triple trancher -
Investor confidence in the country has wobbled slightly in the past few weeks
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Demand good, deal tightens beyond expectations in 'big moment' for Turkey
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The sovereign tightened 50bp from IPTs to land closer to Serbia than bankers had expected
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Scarcity value helps CEE sovereign garner large demand for a 10 year deal
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Bankers expect big demand after stellar performances by Turkish tier two bonds
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At initial pricing MVM offered about 130bp over the sovereign curve
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The country aims to raise €1.5bn in funding on international debt markets this year
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Fair value for the debut currency is in the mid-7% yield area
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Books had grown since a ‘little underwhelming’ figure released at revised guidance
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The sovereign has €10bn of gross borrowing requirements this year
