Central and Eastern Europe (CEE)
-
Turk Eximbank on Thursday* opened books on a new six year bond following the Central Bank of Turkey’s decision to hike rates by 75bp the day before. -
Turkey’s Vakifbank has signed a dual tranche loan totalling $1.3bn-equivalent, in line with its domestic rivals, despite Moody’s taking the axe to the bank’s ratings last month.
-
Turkish participation bank Albaraka Turk added around $100m to its murabaha loan during syndication after signing the final deal at $318m-equivalent.
-
Mining company Polymetal has converted an existing $80m bilateral credit facility with ING into a sustainability-linked loan. It is the first loan market activity from Russia since the US announced a fresh round of sanctions against some of the country’s oligarchs.
-
Eastern European low cost airline Wizz Air has received its first ever credit rating, a likely precursor to a bond issue.
-
Sok Marketler, the Turkish discount grocer, has set the range on its Istanbul IPO, valuing it at Tl6.9bn (1.7bn) to Tl8.3bn ($2.05bn).
-
Renaissance Capital has added to its emerging and frontier markets team with the appointment of Ivan Kachkovski as an equity research analyst.
-
Investors in Rusal’s bonds have lost this round. But the game of investing in Russia has not finished yet.
-
Two corporate issuers are meeting investors for euro denominated bonds this week as the corporate funding season gathers pace.
-
EPIF Infrastructure, a European energy infrastructure utility, raised €750m with its market debut on Thursday.
-
With the shock of the latest round of Russian sanctions receding a little, EM investors are already seeking out the opportunities that last week’s volatility created. Even one holder of the sanctioned and problematic Rusal debt said he has increased his exposure to Sberbank.
-
Turkish real estate developer Ronesans Gayrimenkul Yatirim has released initial price guidance on its benchmark five year bond, which a rival syndicate has called wide but a lead said was the pick-up investors are demanding over Turkish international corporates.
