Central and Eastern Europe (CEE)
-
Issuers will be hoping for better conditions than what has been seen this week, as four of them head out on roadshows on Monday. -
TBC Bank, Georgia’s largest bank by assets, loans and deposits, is hitting the road to market a dollar senior unsecured bond.
-
Magnitogorsk Iron and Steel Works, the second largest steel producer in Russia is embarking on a roadshow for a dollar benchmark five year bond — its first for 16 years.
-
Russian borrowers are making their presence felt in international capital markets. Two syndicated loans are expected to close this week, as well as a bond from a steel manufacturer. The sovereign is also eyeing up the the primary bond market, but the threat of further US sanctions still looms.
-
Münchener Hypothekenbank is looking to execute a trade for a seven year senior non-preferred bond, in a week pockmarked by national holidays across Europe. Meanwhile, Estonian bank Luminor will start investor meetings next week for senior preferred notes.
-
Two Russian loans are expected to close within the next few weeks, according to bankers, but due to sanctions Russian syndications remain few and far between.
-
Türkiye İş Bankası has closed its first semi-annual refi for this year, as the refinancing season for Turkish banks comes to an end.
-
-
Poland e-commerce platform Allegro has completed its Z2bn dividend recap refinancing, receiving healthy oversubscription with the participation of local lenders. But some in the market said that co-operation between international and local lenders in Poland has not been all sunshine and rainbows.
-
Novolipetsk Steel (NLMK) placed a $500m seven year bond on Wednesday inside its own curve and at its tightest ever spread to the Russian sovereign, according to a lead manager on the deal.
-
US Energy Secretary Rick Perry said on Tuesday that a sanctions bill restricting companies involved in Russia's Nord Stream 2 project would come in the “not too distant future”. That left investors wondering how and if this will affect their portfolios as bond bankers dredged up memories of when Nord Stream 1 was on track to print its own international bond through BNP Paribas before capital markets sanctions were imposed on Russia in 2014.
-
Novolipetsk Steel (NLMK)’s $500m seven year bond drew a book in excess of $1.5bn on Wednesday morning allowing leads to tighten initial guidance, which they said offered a 30bp new issue concession.
