CEE Bonds
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It had hoped to raise funds off longer dated bonds but investors are too risk-averse -
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The Republic of Bulgaria has tightened pricing on both tranches of its dual tranche Reg S only bond with combined books standing at over €3.8bn.
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Euro market does not offer the size or duration it used to
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Lithuania also considering returning to the US as the euro market struggles
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BGK had been unable to tighten pricing back on May new issue
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Other CEE issuers will take note but not read much into the outcome of BGK's deal
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The CDS auction for Russia will be held on September 12
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Lending volumes and bond issuance from Turkey have plummeted this year
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Recovery in sentiment has wobbled in run-up to Jackson Hole
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Meanwhile, auction for Russia CDS date narrowed
