Central and Eastern Europe (CEE)
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Croatian oil company Industrija Nafte, INA, has managed to prolong a $300m revolving credit facility by a year despite the default of the country’s largest private company, Agrokor. -
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If any proof was needed that the “spirit of sanctions” has thawed in the capital markets, $3bn of Russian Eurobonds in one week should be it. Russian borrowers have had their busiest week by volume since the heady days of April 2013, and there is plenty more to come, writes Virginia Furness.
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Ukrainian poultry producer MHP this week reaped the rewards of an unsullied history of debt servicing in the form of tight pricing on its first dollar bond for more than four years.
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Yapi ve Kredi Bankasi said it plans to press ahead with its debut euro covered bond, and after getting regulatory approval Turkiye Is Bankasi (Isbank) has had its programme rated by Moody’s.
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As many look on in horror at Turkey’s slide towards autocracy, investors are showing few qualms by piling into the country’s debt. State-owned Ziraat Bank was able to cut through political noise to print with no new issue premium this week. But lower rated banks are lining up to test just how far this demand extends down the ratings scale.
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The Croatian government-appointed extraordinary commissioner for troubled supermarket group Agrokor called on group subsidiaries to convene general assemblies to appoint new auditors as it said that it found "potential errors” in the group's 2016 accounts.
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Turkiye Is Bankasi (Isbank) has had its mortgage covered bond programme signed off with the Turkish regulator and this week had the programme rated by Moody’s.
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Ukrainian poultry producer MHP emerged with pricing for only the second corporate Eurobond from the country on over three years on Thursday morning.
