Central and Eastern Europe (CEE)
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ABH Financial, the holding company of Russia’s Alfa-Bank, will meet investors in Europe next week for a rare Russian financial euro-denominated bond. -
State owned Turk Eximbank attracted 22 banks to its €421m refinancing deal, according to a banker on the deal.
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Akbank’s more generous pricing seems to have paid off with banks lining up to refinance its syndicated loan.
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Evraz saw a strong response to both the new issue and buyback legs of its latest liability management exercise, allowing the Russian steelmaker to print a $750m six year tight to its existing curve on Monday.
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Scarcity value helped boost demand for Croatia’s first euro bond for more than two years on Monday, allowing the Balkan sovereign to price a new 10 year inside its existing curve.
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Croatia’s revived euro benchmark had received orders of €2.75bn and seen its order books shut by lunchtime Monday with the country having enjoyed a ratings agency boost on Friday to defy any fears of being overshadowed by Kuwait’s sovereign deal, which was also in the market.
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Unperturbed by softer markets of late, Russian steel firm Evraz was on track to print a bullish six year bond on Monday morning.
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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.
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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.
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Turkish lender Vakifbank is on a roll in the loan market this week, out with a bilateral facility and a syndicated deal.
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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.
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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.
