Central and Eastern Europe (CEE)
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CEE issuers are having to offer more due to lower liquidity than developed market peers -
Leads were looking at mBank's €750m trade last week as a price point
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First trip to the dollar market for nearly a decade
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Investors are keen for new issues, but they will be more selective than earlier in the year
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Česká spořitelna's successful trade last week will help other CEE bank issuers
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At least four CEE banks are preparing new bond issuance in the next few weeks
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Investors like the spread the Czech bank offers to similarly rated peers in western Europe
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CEE bank bonds have done well in secondary since the last bout of supply in June
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CEE sovereign has already met its needs for this year via January’s dollar bond and a private placement
