Central and Eastern Europe (CEE)

With equity prices around the world tumbling, emerging markets bankers are watching to see just how badly their asset class will be affected.

Luminor Bank, an Estonian financial institution, was looking to place a small senior unsecured deal in the euro market on Wednesday, in spite of volatile market conditions. The transaction will be the issuer’s first step towards reducing its reliance on bank facilities as a means of funding.

Sibur, the Russian petrochemical company, announced a bond buy-back on Tuesday, targeting the borrower’s October 2023 bond.

Turkey is braced for one of the most important political events of what has been a turbulent year; the hearing of US pastor Andrew Brunson. The consequences could shape Turkey’s recovery from its recession. Elsewhere, a Russian mining company's loan showed the country is not quite closed for business, and after weeks of quiet, Latin American markets have bounced into life.

Slovakia’s Slovenská sporiteľňa (SLSP) has issued the first Aaa rated Slovakian covered bond paving the way for the country's first publicly syndicated euro benchmark. UniCredit has also privately placed a €500m Slovak covered bond.

Russia’s Ural Mining and Metallurgical Company (UMMC) has signed its debut syndicated loan, as lenders remain resolute that sanctions have not made the country a no-go zone.

Romania was able to cut the spreads on both tranches of its euro benchmark on Thursday.

Rating: B1/B+

Eurotorg, the biggest supermarket group in Belarus, has announced its intention to float on the London Stock Exchange, paving the way for the first big international IPO of a Belarusian company.

Romania hit screens on Thursday morning for its second dual tranche euro benchmark of the year.

Turkish and Argentine assets have been battered over the past few months, but one investor believes that both countries can provide good value and is expanding its exposure.

The Republic of Albania returned to the capital markets for the first time in three years on Tuesday, selling a euro benchmark.