Central and Eastern Europe (CEE)

Uralkali, a Russian potash fertiliser producer, has sent out a request for proposals to lenders in a bid to raise $1bn. But bankers say that the Russian market is beset with difficulties that are delaying the few transactions in the pipeline.

Credit Bank of Moscow (CBM) opened books on Monday for its return to the dollar market, taking orders for five year loan participation notes.

After completing a roadshow, Slovak Vseobecna uverova banka (VUB), a subsidiary of Intesa Sanpaolo, is set to issue its first euro-denominated covered bond in benchmark size.

Ukraine drew attention for all the wrong reasons this week, tapping a November 2028 line for $350m, allegedly well below the market value.

Ukraine courted controversy this week, turning to the private market to tap its November 2028 bond. The trade caught the attention of investors and bankers, with some saying that JP Morgan had retained the deal and priced it well below the market rate. Lewis McLellan reports.

Kosmos Energy on Thursday announced a new seven year Reg S/144A dollar bond, callable in 2022.

An uptick in Russian equity capital markets (ECM) activity this week buoyed bankers and investors, who are hoping a freeze caused by US sanctions is thawing, write Sam Kerr and Aidan Gregory.

The Bank of Georgia has mandated banks for an additional tier one deal — its debut in the format.

PPF Arena has picked banks for its first ever bond, a Reg S senior euro benchmark with a tenor of four to six years.

Oleg Tinkoff sold $150m worth of London-listed Global Depository Receipts in TCS Group Holding on, the Russian financial services company that controls Tinkoff Bank on Tuesday night.

Investors were so enthused by an offering in Norilsk Nickel, the Russian nickel and palladium mining and smelting company, on Tuesday night that bookrunners increased the sale to $550m, and the stock has continued to perform well in trading.

Credit Bank of Moscow (CBM) is going on the road to promote a dollar loan participation note, returning to its usual external funding currency after a flirtation with euros in February.