Central and Eastern Europe (CEE)

Equity investor sentiment on Russia has been upended in the space of a weekend after the shock release from the US Treasury on Friday imposing a fresh set of sanctions on Russia which has torpedoed the fortunes of aluminium producer EN+ and its owner Oleg Deripaska.

Turkish real estate developer Ronesans Gayrimenkul Yatirim (RGY) has announced plans for a global roadshow ahead of a planned dollar Eurobond debut.

Shares in EN+ Group, the Russian power and metals company controlled by Oleg Deripaska, sold off 20% on Friday afternoon after the company was named on a detailed new sanctions list by the US government.

Turkcell İletişim Hizmetleri, the largest mobile operator in Turkey, set final terms for its $500m bond on Thursday afternoon in London.

Czech investment fund PPF Group has kicked off the syndication of a €3.025bn loan, which it is using to fund the acquisition of Norwegian telecoms group Telenor’s central and eastern European operations.

Ukrainian steel and mining company Metinvest sold its dual tranche five and eight year bond on Wednesday, but the thin oversubscription and pricing at the wide end of final price guidance have suggested a meagre appetite for hairier bits of emerging market debt.

Turkcell İletişim Hizmetleri, the largest mobile operator in Turkey, has released initial price guidance for its 10 year dollar benchmark.

Czech investment fund PPF is in the market to syndicate a €3.025bn loan to fund the acquisition of Norwegian telecoms group Telenor’s central eastern European business. The loan is split into two term loans and a revolving credit facility.

Romanian supermarket chain Profi is in talks with banks to add to its €305m loan, signed in March last year.

Three new Russian equity capital markets deals were launched this week, with bankers confident that European equity investors are comfortable enough to buy Russian risk despite diplomatic tensions between the country and the West growing more hostile.

Ukrainian steel and mining company Metinvest has released initial price guidance for its dual tranche bond, which is bring printed in conjunction with a tender offer for the company’s 2021s.

Cherkizovo Group, Russia’s largest meat producer, has launched a $300m-plus secondary public offering on the Moscow Exchange to boost liquidity in its stock and raise funds for acquisitions and debt repayment.