Central and Eastern Europe (CEE)

Lietuvos Energija UAB will begin marketing the first international corporate green bond from central and eastern Europe (CEE) on Thursday.

The bookrunners on Polish debt collection agency GetBack’s Z1.1bn (€259m) IPO in Warsaw are marketing the deal at an eye-popping discount to its closest peer.

Turk Eximbank, which wrapped up a €412m refinancing in March, has turned its attention to the Asian loan market for a fresh money €300m borrowing.

The governor of People’s Bank of China says Chinese banks must face international competition, the China Securities Regulatory Commission (CSRC) considers changes in Stock Connect daily trading quotas after MSCI’s A-share inclusion, and the Hong Kong Exchange plans to launch CNH and dollar gold futures on July 10.

Recession and lingering sanctions concerns failed to prevent Belarus hammering down on price on its return to the dollar bond market after a six year absence.

Falling oil prices and the imposition of new US sanctions failed to dampen investor demand for Russia’s Eurobond return on Tuesday.

Isbank raised $500m with the 10th deal from a Turkish financial this year with a tidy though somewhat lacklustre trade. While EM bankers suggested it was evidence of some Turkish bank fatigue among investors, the leads said the trade was symptomatic of the weaker market backdrop.

Belarus returned to the eurobond market for the first time in more than six years on Thursday, releasing initial price thoughts for a dual-tranche dollar deal.

Isbank opened books on Thursday for the 10th deal from a Turkish financial this year, offering a higher than usual new issue premium in the process to account for softer market conditions. While the deal is expected to be well absorbed, for some on the buyside, the risks of an Isbank tier two are too much.

GarantiBank International (GBI), a Dutch subsidiary of Turkiye Garanti Bankasi, has signed a $250m loan that was oversubscribed by 19 banks, according to a banker on the deal.

Russia benefitted from a huge technical bid for its bond sale on Tuesday with demand approaching $6bn by 10am, as investors are desperate to pick up debt from the country.

Turkey’s Isbank has hired banks to arrange an 11 year non-call six Basel III compliant tier two trade, continuing a spate of riskier debt issuance from Turkey’s banks this year.