Central and Eastern Europe (CEE)

Unperturbed by softer markets of late, Russian steel firm Evraz was on track to print a bullish six year bond on Monday morning.

Akbank navigated a tricky market on Wednesday to print a $500m no-grow tier two and managed to charm a higher proportion of US investors than previously seen in any Turkish capital bond, according to a banker on the deal.

Russia supply looks set to continue next week following the announcement by Gazprom of plans for a long-awaited return to the dollar market and the start of yet another liability management exercise from Evraz.

Turkish lender Vakifbank is on a roll in the loan market this week, out with a bilateral facility and a syndicated deal.

The Republic of Croatia has picked four banks to revive a euro benchmark deal it was forced to delay last year after anti-government protests in Zagreb in the early summer.

Turkey’s Garanti Bank on Thursday joined the pre-Fed rate rise rush to open books on a senior six year bond with a 35bp-40bp premium.

Russia is continuing to open its doors to international lenders, with Credit Bank of Moscow seeking to launch a syndicated loan of $350m-$400m.

Mid Europa Partners’ Lei1.4bn (€305m) loan for the buyout of Romanian supermarket chain Profi Rom Food has been oversubscribed, allowing the pricing on each tranche to be cut by 30bp.

Akbank emerged with pricing on an inaugural subordinated dollar bond on Wednesday morning after wrapping up two days of investor meetings in the US and UK.

Gazprom looks set to return to the dollar market for the first time in more than three years, following the announcement on Wednesday of plans for a US roadshow next week.

It has been all about sub debt in CEEMEA this week, as a trio of borrowers took advantage of investor appetite for yield to boost their capital bases.

Austria’s Hypo Noe and Poland’s PKO Hipoteczny have mandated leads for roadshows that begin in mid-March and which are likely to be followed by deals.