Central and Eastern Europe (CEE)
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The Ministry of Commerce (MofCom) completes the first draft of foreign investment law, regulators give BEA Union Investment Management the go-ahead to launch a wholly foreign owned enterprise (WFOE) in Shenzhen, and Renmin University’s vice president claims the renminbi will be fully convertible within five years. -
Books for Credit Europe Bank’s $150m tier two bond were at $375m on Thursday afternoon as the bank set the launch price for the deal at 7.25% yield.
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Books for Credit Europe Bank’s $150m tier two bond are at $375m as the bank sets the launch price for the deal at 7.25% yield.
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Hungarian oil and gas company MOL has launched a €600m syndicated loan, for which banks are expected to send in commitments over the next two weeks.
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Turkish biscuit maker Ülker has launched its second syndicated loan of the year for $350m, having been the first Turkish company to come to the market this year, in April.
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The IPO of EN+ Group, the Russian power and metals company controlled by Oleg Deripaska, has got covered at its base size, on the penultimate day of the bookbuild.
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After weeks of risk-on behaviour, a cautious mood has gripped Europe’s equity capital markets after several of this season’s biggest IPOs traded badly in the aftermarket.
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The Slovakian government has approved an updated version of its covered bond law but while this is likely to improve on the existing framework further work may be needed.
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On Monday night, Dmitry Grishin, the Russian entrepreneur, sold a chunk of his stake in Mail.ru Group, the internet services company he co-founded, via an accelerated bookbuild led by Goldman Sachs on the back of reverse enquiries from investors.
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Two new Russian commodity deals are in the market, following a flurry of pre-export finance (PXF) facilities earlier in the year. Unsecured formats are proving more popular, while even PXFs are less secure than they used to be.
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Fibabanka has shelved plans for an inaugural senior dollar bond despite signs of a recovery in Turkish bank paper.
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The $1.5bn flotation of EN+, the aluminium and power company controlled by Russian oligarch Oleg Deripaska, in London and Moscow is coming during a hot time for the aluminium market and will help to seal a partnership between Russian producer Rusal and Glencore.
