Central and Eastern Europe (CEE)
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Turkey’s first euro benchmark in four years hit the market on Wednesday, raising €1.5bn with a February 2026 deal before being hit by a sell-off. -
The market volatility of recent weeks has claimed another IPO victim, Belarusian retailer Eurotorg, which postponed its listing on Tuesday, the last day of bookbuilding.
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RusHydro will come to market for a dual tranche deal in rubles and offshore yuan, following a roadshow to promote the bonds.
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A pair of rare euro bonds from sovereign emerging markets borrowers hit the market this week, much to the approval of investors who said the deals provided “good value”.
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Turkey hit screens on Wednesday, announcing a February 2026 euro benchmark, following up on its success in dollars in October.
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Garanti Bank has launched syndication to refinance a $1.15bn-equivalent loan, as bankers assess Turkish banks' funding activity during the country's recent period of economic upheaval.
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Two listings from Slovenia and Belarus are due to close this week and the sellers are hopeful of getting the deals across the line, despite market challenges.
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The US Treasury has lifted sanctions on two Turkish officials following the release of pastor Andrew Brunson — a US citizen Turkey had detained for two years on suspicion of espionage and links to terrorism.
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Yapı Kredi is the latest top tier Turkish bank to refinance hard-currency debt, with a $1.1bn equivalent loan. It is the largest Turkish bank refinancing of the season, indicating that there is resilience in the market, and Garanti Bank is set to follow.
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Kernel, the Ukrainian powerhouse producer of sunflower oil and agricultural products, has boosted and extended its $200m pre-export revolving credit facility.
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Nova Ljubljanska Banka (NLB), the largest bank in Slovenia, has fixed the price range for its €734m IPO in London and Ljubljana, after a positive response from investors during pre-marketing.
