Central and Eastern Europe (CEE)

ABH Financial, the holding company of Russian issuer Alfa Bank, returned to the Swiss franc market on Tuesday, with a refinancing of a Sfr85m ($85.6m) January 2018 that almost doubled the size of the original issue. The transaction came just days after Russian investment company 01 Properties pulled a debut deal after finding insufficient support for a four year bond.

Turkish Fibabanka is heading off on a roadshow on Wednesday to market a five year dollar denominated bond. But with Turkish bank levels still elevated after local press reports that some Turkish lenders could be fined billions of dollars by the US for violating sanctions on Iran, the bank and its leads are hoping for a rally before pricing.

Poland’s Bank Gospodarstwa Krajowego (BGK) released price guidance on a 10.5 year benchmark bond on Tuesday morning in London at a level that bankers away from the deal said looks fair.

Turkey’s banking regulator issued a statement over the weekend asking the public to ignore stories about the country’s banks, after local press reports that some Turkish lenders could be fined billions of dollars by the US for violating sanctions on Iran.

Bank Gospodarstwa Krajowego is marketing a long 10 year euro benchmark bond on Monday, getting in before what is expected to be a slew of emerging market bond sales this week.

En+ Group, the Russian power and metals company controlled by Oleg Deripaska, has opened the books for its $1.5bn IPO in London and Moscow, which may value it at up to $8.5bn if the deal is priced at the top of its price range.

The Shenzhen Stock Exchange (SZSE) wants Panda bond issuers to raise RMB funding in Shenzhen for Belt and Road projects, the governments of Guangdong, Hong Kong and Macau plan new scheme to allow greater use of renminbi in the region, and the Moscow branch of Industrial and Commercial Bank of China (ICBC) becomes an interbank FX lending member.

PKO Bank Polski issued in Swiss francs for the first time in five years this week amid an improving basis swap out of the currency that is opening up a window for deals.

Kernel, the Ukrainian grain and sunflower producer, has signed a $200m syndicated loan to refinance a $300m facility from last year, with a longer three year tenor.

Belarusian food retailer Eurotorg’s $350m new issue traded up in the secondary market on Thursday morning, demonstrating the high appetite for rare corporate bonds from emerging markets.

Belarusian food retailer Eurotorg tightened price guidance on Wednesday for a $300m-$350m bond to 9.125%-9.25%. Syndicate officials away from the deal said that level was much wider than they expected for the note but a lead manager has launched a staunch defence of pricing.

Development finance institutions the European Bank for Reconstruction and Development (EBRD) and International Finance Corp have lent €215m to Vetroelektrane Balkana (WEBG) to develop Čibuk 1, the largest wind farm in Serbia and the western Balkans.