Central and Eastern Europe (CEE)
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◆ Hungarian bank brings subordinated debut ◆ Order book allowed 50bp of spread tightening ◆ Absence of senior deals led to 'some surprise' -
New issue premium is in line with pre-tariff euro sovereign deals in CEE
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The SLB is CEZ's fourth in the format in three years
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New issue premiums have risen in the European corporate market
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Focusing on absolute emissions is a big plus, said one observer
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Country's high borrowing means it is 'walking a tightrope' in the debt markets
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A banker away from the Kazakhstani bank's deal expected it to go well
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Shorter tranche far more popular
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Issuer's rarity meant its deal would be in high demand from investors, said one fund manager
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Seven-year euro deal's size is expected to increase
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Deal helped by talk of a ceasefire in the Russia-Ukraine war
