Central and Eastern Europe (CEE)
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Shareholders in Russia’s United Co Rusal raised HK$2.5bn ($320.3m) through an overnight bookbuild, following a rally in the stock as its parent EN+ Group is seeking a $1.5bn IPO. -
Moody's expects Agrokor's creditors to recover at the low end of the 35% to 65% range on average, and that unsecured bondholders will get less than 35% of what they are owed.
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Turkey’s fourth largest private bank Yapi Kredi signed a $1.36bn syndicated loan with 37 banks on Monday.
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President Erdogan’s consolidation of power in April has translated into the stronger economic growth that he and his followers had hoped for. But questions about its sustainability are growing louder and they are feeding into an undercurrent of distrust among international investors. Virginia Furness reports.
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Food retailer Eurotorg met investors this week to market the first ever international bond from a Belarusian corporate, but bankers were sceptical about whether there will be an influx of issuance from the former soviet state.
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One of the most widely anticipated IPOs in the EMEA region got going on Thursday when EN+ Group, the Russian power and metals business controlled by Oleg Deripaska, said it would sell up to $1.5bn worth of global depositary receipts in London and Moscow in November.
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After several years financing in the domestic and Asian markets, Hungary turned its attention to the next stage of reducing its external liabilities this week, and was overwhelmed by the positive response to its dollar euro switch, György Barcza, chief executive of Hungary’s debt management agency (AKK), told GlobalCapital.
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Turkish oil refiner Tüpraş will start roadshowing a 10 year dollar bond on Friday, but the issuer’s links to Iran are expected to raise questions on the roadshow.
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Czech rental housing company Residomo is marketing a €680m seven year non-call three year senior secured bond that is expected to garner interest from global high yield accounts and emerging market investors.
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Hungary had taken books of €5.75bn for its new euro benchmark on Wednesday, after announcing that investors had agreed to tender $3.3bn of its outstanding dollar notes.
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Turkey’s Vakifbank has signed its second refinancing facility of the year for $891m equivalent, with a bigger euro tranche than its previous facility, showing banks' preference for financing in euros over dollars.
