Central and Eastern Europe (CEE)

The Republic of Bulgaria has investment grade ratings from all three big rating agencies, after Standard & Poor's last Friday revised the country's credit rating to BBB- from BB+.

EN+ Group, the Russian power and metals company controlled by Oleg Deripaska, rose more than 2% in Moscow trading on Monday morning after posting its first results since its $1.5bn IPO in early November.

Finansbank’s $780m loan is being provided by 33 banks, led by Mizuho.

The Philippines postpones its Panda bond deal as it awaits approval from China’s central bank, Hong Kong Exchanges and Clearing (HKEX) opens its first office in Singapore, and the renminbi falls to seventh place in the league table of the world’s most used payments currency in October.

Banks have been dipping their toes back into the unsecured loan pool this year as their appetite for Russian credits has grown, three years after the annexation of Crimea. Alongside loan structures loosening, pricing has also dropped to near pre-sanction levels as the demand for deals outstrips supply.

Bulgarian insurer Eurohold sold a €70m five year bond on Thursday, rolling many investors from an old bond into this new one.

An undisclosed shareholder has sold $114m of shares in Mail.ru, the Russian internet services company. The sale came a month after the company's co-founder Dimitry Grishin placed 4.7m global depositary receipts with institutional investors in a block trade, after numerous reverse enquiries.

Energo-Pro became the latest high yield corporate to join the recent run of supply from central and eastern Europe on Thursday, increasing the size of its debut deal after a decent bookbuild allowed it to raise an additional €20m.

Bulgarian insurer Eurohold has set the minimum size of its five year bond to €50m but postponed pricing from Wednesday to Thursday to allow more orders to come in.

The inaugural issuance of Baikal bonds — denominated in renminbi and issued in Russia — has come closer this week as the Russian Ministry of Finance toured Hong Kong and Mainland China on a non-deal roadshow, sources told GlobalRMB.

Norilsk Nickel, the Russian nickel and palladium producer, is in the market for over $1bn through a syndicated loan. The facility is unsecured, and pricing has been driven down to pre-sanctions levels, showing the risk appetite for Russian credits is on the rise.

Bulgarian insurer Eurohold has released initial price thoughts for a five year bond of up to €100m.