Central and Eastern Europe (CEE)
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It's time for a Russia comeback. The sanctions remain as firmly in place as ever, and banks and investors have been clamouring for deals. But now, at last, compliance has caught up - and that means a bonanza for borrowers awaits. -
Creditors of Agrokor have until June 9 to submit claims for repayment to the government-appointed bankruptcy commissioner Ante Ramljak, the company said on Monday.
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Turkey’s Garanti Bank this week signed a $1.35bn loan from 38 banks, in what could be one of the last financial institution deals to come from the region in the spring funding round.
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Legislators in the Czech Republic and Austria are in the process of updating their covered bond laws and Lithuania has set out its intention to introduce a framework.
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Agrokor’s largest creditors, VTB Bank and Sberbank, have made provisions for losses on the loans they have provided to the struggling Croatian food company.
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Turkey’s bank loan refinancings are still in full swing, with Yapı Kredi having signed a deal for $1.36bn and Garanti Bankası mandating 19 banks.
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Metalloinvest, the Russian steel manufacturer, and Acron, the fertiliser producer, have both signed syndicated loans. They are soon to be followed by another Russian deal, for aluminium company Rusal, according to a banker looking at the deals.
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The Republic of Turkey has launched its largest 30 year bond since 2010, as investors shrugged off the recent constitutional referendum and dived in to catch the sharp rally in the country's spreads.
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An inaugural deal from second tier Turkish lender Fibabanka on Wednesday offered further proof that concerns over the country’s political direction have failed to dampen investor confidence in its banks.
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The Republic of Turkey is out with guidance for a new 30 year note, in a move that rival bankers have said is “perfectly timed". The sovereign is on track to complete all of its planned funding for the year in the first five months.
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Telia, the Nordic telecoms group, came to market on Wednesday night with a large block trade in Turkcell, the Turkish firm in which it owned 38% directly and indirectly.
