Central and Eastern Europe (CEE)

United Company Rusal has added an extra bank to its bond mandate ahead of pricing for the Reg S/144A dollar deal, which is expected on Thursday.

Polyus Gold, Russia’s largest gold producer, has released price guidance for a six year benchmark bond and books for the deal are already over $1.1bn.

Turkey’s Vakifbank was able to increase the size of its deal on Tuesday to $650m after strong demand propelled the book to over $1.7bn, as funding costs return to levels seen before the fourth quarter of 2017.

Options volumes were up 11% in exchanges around the world last year, while futures were down 6.6%, according to new data unveiled by the Futures Industry Association.

Emerging markets are coming to the fore in equity capital markets this year, fulfilling predictions of a good year for ECM issuance from more challenging markets.

New emerging markets bond issues are starting to trickle after a slow start to the week. Political events in the US, as well as Turkey’s military campaign in Syria have proved an unhelpful distraction, though overall the markets remain in good shape.

Turkey’s largest hospital group, MLP Sağlık Hizmetleri, also known as MLP Care, set the terms of its IPO on Monday and expects to price it next month.

Vakifbank opened books on Tuesday on the third senior 2023 from a Turkish financial institution this year and was expected to guide investors towards a sub-6% print.

Petkim Petrokimya Holding brought the first high yield corporate trade from Turkey since 2014 last Friday, raising $500m with a sub-6% coupon.

The Republic of Belarus is considering reopening its $600m 7.625% 2027s, according to a source with knowledge of the matter, after a strong rally that has made them the best performing hard currency bonds in CEEMEA in the last six months.

Polyus Gold, Russia’s largest gold producer, priced a $250m convertible bond on Friday, just a day after issuing a separate mandate for a new Eurobond.

United Company Rusal has returned to its core currency after issuing two Panda bonds via private placement last year. The Russian aluminium producer will meet investors for a dollar bond of intermediate maturity next week.