Central and Eastern Europe (CEE)
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Polyus Gold has announced plans to issue a Eurobond, three days after terminating an agreement to sell a stake to Chinese investment company Fosun International. -
Fibabanka has restarted a dollar bond issue that it postponed last year.
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PhosAgro, a Russian phosphate-based fertiliser company, has released price guidance for a $500m 5.25 year bond that a banker away from the deal and an investor are calling “fair”.
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Fund flows into emerging market bond funds hit a 76 week high in the week ending January 12, according to EPFR data, culminating a week of strong primary markets that a wobble in US Treasuries could do nothing to derail.
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Macedonia on Thursday set final terms for a €500m seven year bond at 3%, the tight end of price guidance at 3.125% area, with books over €3.5bn.
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Several big name investors this week called the start of a bond bear market after a back-up in 10 year US Treasury yields but there was little sign of reticence from the emerging markets buy-side, with three sovereigns pulling in jumbo order books.
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Macedonia has set final terms for its first international bond in over a year, with books for the deal hitting over €3.5bn
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Expat Asset Management has joined German exchange group Deutsche Boerse as a new exchange traded fund issuer, debuting with an ETF that provides exposure to Bulgarian stocks.
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The Republic of Turkey sold a $2bn 10 year bond on Tuesday just as a sell-off in US Treasuries took hold, but it still managed to raise a book of $5.3bn for the deal.
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Though bankers may have expected the first quarter of 2018 to play out with a glory run of slam dunk deals, a recent back-up in US Treasury yields has left some big name investors calling the start of a bear market in bonds.
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Turkiye Sinai Kalkinma Bankasi batted away suggestions on Tuesday that its deal would suffer from pricing on the same day as the Turkish sovereign, printing a $350m five year bond from a book of $1.15bn and 15bp inside initial price guidance.
