CEE Bonds
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Bookrunners would have preferred a bigger gap between this week's two Turkish bank trades -
First trip to the dollar market for nearly a decade
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The bank was encouraged by a Turkish peer’s trade that priced the previous day
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A successful trade is 'pretty vital' for other Turkish banks planning to issue
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Investors are keen for new issues, but they will be more selective than earlier in the year
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Česká spořitelna's successful trade last week will help other CEE bank issuers
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Investors feared the worst, but Erdoğan has performed a volte-face since winning in May
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At least four CEE banks are preparing new bond issuance in the next few weeks
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Investors like the spread the Czech bank offers to similarly rated peers in western Europe
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Erdogan has shown that he is willing to listen to foreign investors, but they must act
