Central and Eastern Europe (CEE)

Globalworth Real Estate, the London-listed real estate investment trust focused on Romania and Poland, has completed the sale of up to €500m of fresh equity to finance its pipeline of investment opportunities.

Russian equity capital markets have enjoyed the best start to the year since 2013, the year before sanctions were first levelled against the country after the annexation of Crimea.

CPI Property Group hit screens on Monday, announcing a call to promote a new subordinated euro bond.

Turkish bank and sovereign debt valuations are making a modest recovery in capital markets, despite confusion surrounding Turkey's local election results last week.

The Development Bank of the Republic of Belarus (DBRB) will go on the road this week, promoting its first ever international dollar Eurobond.

Russian equity capital markets are red hot again, after almost two years in the cold, with supply being driven by some of Russia’s most powerful oligarchs. As investors warm to Russian equities, more of these billionaires are set to monetise some of their holdings, writes Sam Kerr.

Credit Bank of Moscow (CBM) has refinanced a $400m loan, raising $500m. While the deal was oversubscribed, bankers still have little hope of a sustained increase in Russian syndicated lending, which some have called a barren market.

ECM investors continue to support Russian deals and flooded into a Rub5.8bn ($89m) block in LSR Group, the Russian real estate development company, in what was the latest sell-down by one of the country’s oligarchs.

A recent resurgence in Russian ECM has gathered pace with the announcement of two IPOs in London and the US, as oligarchs seize the opportunity of a better equity window. Rustranscom (RTC), the Russian freight transportation company, joined this wave after it filed paperwork for a London listing of global depository receipts on Monday evening.

Société Générale has appointed a new group country head for Russia, replacing Didier Hauguel, who is stepping down to focus on charity work.

The Slovak Republic kick-started its 2019 international bond issuance on Tuesday, printing a €1bn 11 year, drawing a book of over €5bn. It paid a “minimal” new issue concession, according to lead managers.

Turkey’s ruling party AK was victorious in Sunday’s local elections, although polling poorly in major cities — a result that investors think will hasten economic reform.