Central and Eastern Europe (CEE)

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.

Turkish petrochemical manufacturer and debut issuer Petkim Petrokimya Holding was marketing a five year bond at what one rival banker called a “punchy” starting point on Friday.

Debt management officials met in Vienna this week at Euromoney’s annual Central & Eastern European Forum. After a record year for CEEMEA funding in 2017, 2018 has begun with equally supportive conditions, though CEE sovereigns will maintain a measured approach to borrowing this year. GlobalCapital presents a round-up of some of their funding plans for 2018.

Fibabanka has launched its $300m five year senior unsecured bond at 6%, with leads having built a book of just under $500m for the bond, which had been postponed from October.

Fibabanka began marketing its revived five year bond at 6.25% area on Thursday.

Russian fertiliser producer PhosAgro placed the first Russian corporate bond of the year on Wednesday, securing a coupon of below 4%.

Alfa-Bank will be the first Russian privately owned bank to test demand for additional tier one (AT1) securities since the write-down of capital bonds from Otkritie and Promsvyazbank.