Central and Eastern Europe (CEE)

An innovative liability management exercise by Czech Eurobond issuer Net4Gas is unlikely to be repeated in the near term due to limitations on the koruna corporate bond market, according to bankers on the deal.

A holding company owned by Dubai’s Oger Telecom has come to an agreement with all of its lending banks to give control of Turk Telekom to creditors, after months of restructuring talks on a $4.75bn loan.

The government of Slovenia has relaunched the reprivatisation of Nova Ljubljanska Banka (NLB), the biggest bank in the country, after an attempt to float it in 2017 failed.

As the trade tension deepens between the US and its counterparts, fund investors have fled to US bonds and equities, leaving emerging market fund outflows on the rise for the most part of 2018.

Frontier markets specialists Exotix Capital has made four new appointments to its EM sales business, expanding its coverage in four different geographies.

Akbank is due to send out invitation letters for its late summer one year syndicated loan by the end of this week, according to a source close to the Turkish lender.

Turkish banks are later than usual on their syndicated loan refinancing timetables amid political noise in the country, and loans bankers say it will soon be too late for the banks to roll the deals over, and they might instead have to take the unusual step of repaying the debt.

Turkey was driven further into financial instability and chaos this week, reflected in tumbling asset prices and the lira being at near record lows, after the country's president Recep Erdoğan delivered a further blow to investor confidence with a cabinet reshuffle.

The outlook for Turkish IPOs is bleak after the country’s president, Recep Erdoğan, appointed a new cabinet which included his son-in-law as new finance minister.

Turkey’s Akbank will not refinance its one year loan signed last August until September, as that corresponds to when the borrower drew down on the facility, a source close to the bank said.

Turkish banks are running late on their syndicated loan refinancing timetables amid political noise in the country, and loans bankers say it will soon be too late for the banks to rollover the deals and will instead have to take the unusual step of repaying the debt.

The news that Russia intends to plough ahead with its plans for funding in the international capital markets was greeted with some initial disbelief. At first glance, the international environment does not look good for a Russia return. But look again, and there is little reason to believe that demand for a Russian sovereign new issue would be anything but enthusiastic.